Trend Report for 2010
IREC Study: Booming U.S. Solar Market
Thanks to strong consumer demand and financial incentives at the federal and local levels, the U.S. solar market is booming. The Interstate Renewable Energy Council has released the Solar Market Trends report for 2010.
The Interstate Renewable Energy Council has released the Solar Market Trends report for 2010. Picture: Andre Bonn Fotolia.com
The report includes 2010 installation data for solar electric (photovoltaic), solar heating and cooling, and concentrating solar technologies. “The capacity of photovoltaic systems installed in 2010 is double what it was in 2009,” said Larry Sherwood, chief author of the annual report. According to Sherwood, 2010 saw more than 124,000 new solar heating, cooling, and solar electric installations, the majority of which were concentrated in a few states. Growth in the photovoltaic utility sector was the most dramatic – the capacity of systems installed by utilities quadrupled in 2010. In addition, photovoltaic installations in both residential and commercial sectors grew by more than 60%. “State renewable portfolio standards are a big reason for that huge growth in the utility sector,” said Sherwood, “and other state and federal incentives helped fuel the dramatic growth of solar installations on homes and businesses.” California still ranks as the largest U.S. market, with some 28% of installed capacity completed in 2010, but faces some competition as other states embrace renewables. Arizona, Colorado, Massachusetts, Nevada, New Jersey, New Mexico, Pennsylvania, and Texas made huge strides, at least doubling their installed photovoltaic capacity since 2009”, said Sherwood. Given the long-term extension of the federal solar investment tax credit (ITC), Sherwood is optimistic about solar’s continued growth. “Besides the ITC,” he said, “a deadline to start construction in 2011 to participate in the federal cash grant program will continue to spur market growth in 2011.”