Solar Industry Projections

Solar Industry Projections

What are the solar industry projections for the great solar boom in the climate-energy era? As the country begins climbing out of recession, it is going to require increasing public acceptance of solar energy to get the economic engine fired up.

Solar industry projections provide that the uneven supply and demand ratio characteristic of 2009 will be balanced out this year due to strong demand in the Asian and U.S. markets.  These markets will help increase the global solar usage to 9.3 GW in 2010.  This would translate into a market value of U.S. $39 billion.

Decreasing prices in solar equipment and materials should open up new markets allowing for the industry to reach a United States $77 billion value with 26.4 GW of capacity in 2015.

A huge role in the growth of the solar market will be the demand for solar technology in China.  Currently, China is the largest single manufacturer of solar products in the world but not a huge buyer of them.  China will have to deploy solar technology as they have a significant impact on global warming and the energy crisis.  According to most solar industry projections, China will be the largest solar market in the world in 2015.

Supply and demand will only be restored to its equilibrium once the market experiences some company failures and lowered utility rates.

Ted Sullivan, senior analyst at Lux Research and author of the new report "Solar's Shakeout: Europe Loses Leadership as China Rises", cites that solar installations will rise at an annual rate of 23% between 2010 and 2015.  Yet, revenue will only grow annually by 14% due to falling solar equipment prices.

With the projection of 26.5 GW of solar deployed in the United States in 5 years (currently just over 1 GW), there is plenty of room for expansion in the solar industry. As energy prices rise in the future, demand for solar will increase dramatically, creating jobs increasing revenue of strong solar companies.

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Rich Hessler Solar

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