According to ABI Research, by 2013, the US photovoltaic (PV) market will develop into the largest market for annual PV installations. If favourable circumstances prevail, then it will overtake Germany, Japan, and Italy.
In 2010, an estimated 900 MW of installed capacity came to light in the US PV market that is supposed to increase twofold in 2011. As a result of a positive outcome, renewable energy technologies are getting massive acclamation in the United States. The photovoltaic market has enormous growth potential, especially with utility, industrial, and commercial PV installations. The US Army and Navy are trying to figure out PV solutions to provide energy supplies for troops and equipment.
The US federal government is trying to focus on developing energy sources other than fossil fuels by increasing investment tax credits until 2016 to accomplish ambitious Renewable Energy Standards (RES) or Renewable Portfolio Standards (RPS), Josh Flood, the senior analyst, said.
Many US states who already have RES (or RPS) are to comply with renewable energy objectives either by generating or purchasing a percentage of their energy from renewable energy sources. Following the previous decision taken by the Federal Energy Regulatory Commission (FERC), all states were banned from setting feed-in tariffs (FiTs) for renewable energy technologies. However, several states will introduce FiTs before 2012 according to the prediction of ABI Research. At present, California will achieve an RPS target of 33% until 2020. It will become the first state to initiate FiTs for PV power generation.
The Growing perspective of 5GW installations until 2012 depicts that the US PV market will take a leap jump which will inspire companies such as First Solar, SunPower Corp, and Solar World.
Josh Flood said that the US market would provide a platform for the above three companies where they can look for growth and enlargement. Hence, these companies will add up about 3000 MV of additional manufacturing capacity of PV modules during 2011 and 2012.
