Solar PV Market Grows Rapidly Since 2009 with Annual Growth of Installations Reaching 100%

The solar PV market in the US has been growing rapidly since 2009 with annual growth of installations reaching more than 100%. Many large-size power stations and commercial solar PV systems are expected to be completed before end of the year since the 30% cash subsidies from the federal government only covers up to the year 2011. This will increase the solar PV system installations in the US in 2011. Digitimes Research estimates the 2011 total solar PV installations in the US will reach 1.8GWp. The US solar policies have gone through numerous changes. The most helpful policy has been the 30% tax break from the federal government. State governments such as California and New Jersey also have solar incentive policies to stimulate the local solar industry. The incentive policies taken by various states have been tax breaks, equipment and loan supports, and feed-in-tariffs (FITs). In addition, state governments have stipulated the percentage of energy from renewable energy sources causing power companies to install solar PV systems with eagerness. Power companies have also been purchasing "Solar Power Permit" and "Renewable Energy Permit" and have been signing the "Power Buyback Agreements." The total capacity of large-size power plants that will begin construction before the end of 2011 will be 2.46GWp with California and Arizona having the largest amount of installations. As Germany and Italy initiate incentive cuts, the installations after 2012 will likely fall. The US solar market has become a market with large growth potential. The growth in 2012 is expected to reach 100%. Hence the US solar market has become an important market for the solar industry. The rapid growth of solar PV system installations in the US after 2009 has been spurred by government incentive programs and the emphasis of using renewable energy shown by the state governments. The US announced in 2009 the American Recovery and Reinvestment Act of 2009 (ARR), changing the incentives from tax breaks to cash subsidies to support the cost for installing solar PV systems. This incentive program was designed to last for three years from 2009-2011, causing the hike of installations in the US as well as stimulating the installations for solar power plants, commercial systems and BIPV systems. Source: www.digitimes.com