US Solar Market To Grow Tenfold by 2014

July 28, 2010

Solar News

Solarbuzz:

Published: July 26, 2010

California, United States — Despite a challenging domestic economic environment, the U.S. solar market grew 36% in 2009, according to the United States PV Market 2010 from Solarbuzz. This growth was, however, not nearly as strong as the region’s 62% growth in 2008. On a global scale, the country was ranked the third largest solar photovoltaic market, behind Germany and Italy.

Within the next five years, Solarbuzz forecasts the market will grow to between 4.5-5.5 GW depending on the scenario. This is around ten times the size of the 2009 market, an average annual growth rate of 30% per annum.

The key drivers of this outcome will be much more aggressive positioning in the utility segment based on the need to meet their Renewable Portfolio Standard obligations, the development of new state markets together with the return of the corporate segment and steady growth in residential demand stimulated by cuts in end-market pricing.

To learn more about the report from Solarbuzz, click here.

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