PV capacity in US to reach 8.2 GW by 2014 - RNCOS

Jul 14, 2011 - Total installed PV capacity in the US will reach 8.2 GW by 2014, compared to just 2.2 GW in 2010, market research consulting service RNCOS projects.

According its report US Photovoltaic Market Analysis, solid government support and increasing popularity in commercial and residential consumer segments are the major contributors to the rapid growth of the US photovoltaic (PV) sector. In 2010 alone, the sector booked a record growth of 59% year-on-year.

In 2011, RNCOS sees PV as the most dominant segment when talking about budget allocations. It will be followed by concentrated solar power. More than 50% of the solar energy budget in the US has been allocated to the PV sector, due to its economic viability and high potentials to replace conventional energy sources. For the past 10 years, 48% of the US government's solar energy technology budget has been spent on near-term projects that take less than three years to complete. Long term projects built for over seven years and mid-term ones, three to seven years, both got 26% of all budget allocations.

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