Surge in US Solar Panel Installations as prices fall

The report, from the Solar Energy Industries Association, the industry’s main trade group, and GTM Research, a renewable energy consulting firm, found that the amount of new solar electric capacity increased last year by 76 percent from 2011, raising the United States’ market share of the world’s installations above 10 percent, up from roughly 5 to 7 percent in the last seven years. NOTE: Original Source states: ANNUAL RATE OF INCREASE JUMPED 76% Part of what has been helping the market has been the low cost of solar panels, which is partly the result of the overdevelopment of manufacturing capacity in China. The resulting glut of cheap panels has contributed to the dire financial straits of huge producers like Suntech. The average cost of a solar panel has declined by 60 percent since the beginning of 2011, according to the findings. Some analysts said that low prices would force consolidations among manufacturers, prompting a rise in the cost of panels and a potential slowdown in momentum for the American installation industry. NOTE: facts check out. Original source available here:

Diane Cardwell, "Solar Trade Group Reports Surge in U.S. Installations," The New York Times, March 13, 2013 [verified 4/17/14]

#environment #climatechange #renewableenergy