United States PV Market Set To Reach 20 GW By End Of Year

[ScienceRocks]

United States PV Market Set To Reach 20 GW By End Of Year

Writing on the NPD Solarbuzz blog, senior analyst Michael Barker has predicted that the US photovoltaic (PV) market is set to reach a cumulative total of 20 GW by the end of 2014, thanks primarily to continuing declines in cost.

Barker notes that with the US grid reaching a cumulative total of 10 GW during 2013, the country is on course to double that by the end of the year.

In conjunction with declining costs, Barker also notes “a push by project developers to move projects towards completion before a reduction in the federal investment tax credit” as another reason for the growth in the US PV industry.

The growth, as backed by new research featured in the NPD Solarbuzz North America PV Markets Quarterly report, represents “a doubling of cumulative solar PV capacity within two years, with a compound annual growth rate (CAGR) above 50% since 2006.”

Read more at United States PV Market Set To Reach 20 GW By End Of Year | CleanTechnica


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