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The US Solar PV Market Analysis: Policies and Incentives, Industry Trends and Forecasts to 2015

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Market

Environmental

Report Type

Market Research

Country

United States

Published

26 February 2010

Number of Pages

185

Report Delivery

Email

Delivery Lead Time

-

Publisher

GlobalData

File Format

-

The US Solar PV Market Analysis Policies and Incentives, Industry Trends and Forecasts to 2015

The US Solar PV Market Analysis Policies and Incentives, Industry Trends and Forecasts to 2015 report gives an in-depth analysis of the US Solar PV market and provides forecasts up to 2015. The research analyzes the growth and evolution of the US Solar PV market and gives historical and forecast statistics for 2001-2015. This research analyzes the market scenarios for this technology and regulatory policies that govern them. Detailed information on key current and upcoming solar parks gives a roadmap to this market’s development. This coupled with elaborate company profiles give comprehensive understanding of the market scenario.

Global Solar PV market is growing rapidly

The global solar PV market witnessed tremendous growth in 2008 and 2009 with 11,908 MW (megawatts) of installed capacity coming online in these two years as compared to only 2,392 MW installed in 2007. The cumulative installed solar PV capacity has more than doubled since 2007. Installed capacity increased from 9,162 MW in 2007 to 21,070 MW in 2009. Europe is the leading solar PV market with a share of 66% followed by the Asia-Pacific with the share of 17% in 2009. The market is driven by supportive mechanisms offered by governments across the world. The market stimulation packages being offered by several governments are expected to drive the growth of this industry in the coming decade.

The US solar PV market is driven my government support policies

The growth momentum of the US solar PV market has been largely facilitated by the support mechanisms provided by the federal and state governments. The US federal government has provided funding of $3.1 billion to the states, as part of its economic stimulus package, to encourage PV installations and expand solar PV support programs. This is part of the country’s plan to encourage the growth of renewables in the energy portfolio. The US government has extended the production tax credit (PTC) and investment tax credit (ITC) parts of the stimulus plan for PV development. The government has also extended federal tax credits for solar PV. California, the leading solar PV market in the US, was the first to initiate the feed-in tariff (FIT) system in the country. These support mechanisms combined with other policies and incentives are expected to open up high-growth markets for PV. In this backdrop the US market for solar PV is expected to rise to 10,885 MW by 2015 at a CAGR of 39% during 2009-2015.

Share of on-grid installed capacity increased

Ongrid power accounted for a share of 31% in cumulative solar PV installations in the US in 2001. This share increased to 75.5% by the year 2009. The key to the increase in the share of on-grid capacity is mainly due to the financial incentives provided by federal and state governments in supporting grid-tied systems.

California is the largest solar PV market in the US

The US grid-connected PV installations are mainly concentrated in a few states, with the state of California (757 MW) alone accounting for close to 66% of the country’s total cumulative installed solar PV capacity. The other major states with high cumulative installed capacity are New Jersey (101 MW), Colorado (52 MW), Nevada (49 MW), Arizona (36 MW), New York (32 MW) and Hawaii (20 MW).

Systems revenue increasing even with declining prices

The PV system price in the US in 2009 was $4.6/watt. It declined from $6.5/watt in 2001 by 29.6% to reach $4.6/watt by 2009. The oversupply of solar PV equipment in the global market, created by the economic meltdown and the collapse of the Spanish market, is now resulting in a correction in PV system prices in the US. It is expected that the system price will further fall to $3.25/watt by 2015. Even with these declining prices, systems revenue in the US are expected to increase on the back of rising PV installations. The US is the fourth largest solar PV equipments market in the world after Germany, Spain and Japan. Financial and policy support from the government are expected to drive revenues in this market from an estimated $189 million in 2001 to $1,726million by 2009 at a CAGR of 32%. The solar PV systems market in the US is expected to grow to an estimated $10,904 million by 2015 at a CAGR of 36%.

US Solar PV cell production increasing steadily

US Solar PV cell production has seen a steady increase in volume over the last five years. Even with a steady increase in the volume of cell production, the country’s share of the total global cell production continued to fall. The main reason for this fall in market share can be largely credited to countries like China, which is the largest producer of PV cells, Germany and Japan. The US PV cell production has reached over 650 MW by 2009, growing at a CAGR of over 26% for the period 2001-2009. The US holds about 7% of the global solar cell market. The top five solar cell-producing countries are China, Germany, Japan, Taiwan, and the US.

The US solar PV market has witnessed a decline in deal value and volume during 2009

This can be attributed to the economic downturn that led to credit crunch. Overall the financing activity in the sector has increased as compared to its level in 2001. Deal value has grown from $2,713 million in 2001 to $15,055 million in 2009, at a CAGR of 23.9%. Deal volume increased from 19 in 2001 to approximately 159 in 2009, registering an increase of 736.8% over 2001. This shows the increased investor confidence and interest in the new and clean technology.

Majority of financing activity in the industry during 2009 came in the form of debt offering which constitutes 74% of the total deal value in the year. This is followed by equity offerings which constitutes 16% of the total deal value in 2009.

The US Solar PV Market Analysis: Policies and Incentives, Industry Trends and Forecasts to 2015

Summary

The report "The US Solar PV Market Analysis:Policies and Incentives, Industry Trends and Forecasts to 2015" gives an in-depth analysis of the US solar Photovoltaic (PV) market and provides forecasts up to 2015. The research analyzes the key trends, major issues and growth opportunities in the US solar PV market. Market share by installed capacity, elaborate profiling of major market participants, information on major solar PV parks and analysis of important news and deals provide insight into the competitive scenario in the US solar PV market. This coupled with detailed information on the regulatory framework and key policies governing the market provide a comprehensive understanding of the market for solar PV in the US.

Scope

- The report provides detailed market opportunities and challenges for present and potential the US solar PV market players in the world
- The report covers detailed qualitative analysis of the market scenario and analysis of the US Solar PV market
- The report covers detail analysis of technology, market forces, market trends, market shares, systems market, PV cell market, and Financing trends
- The report details historical and forecast statistics along with growth estimates for power installed capacity and generation from solar PV from 2001 to 2015 in the US (United States)
- The report covers information on key current and upcoming solar parks in the US
- The report includes elaborate profiles of key market participants and policy and regulatory framework governing the market. Key companies covered include GE Energy, NextEra Energy Resources, United Solar Ovonic, SunPower Corporation, First Solar, Inc, Evergreen Solar, Inc. GT Solar International, Inc., Global Solar Energy, Inc., etc
- The report also provides updated news and deals pertaining to the market.

Reasons to buy

- Identify key growth and investment opportunities in the US solar PV market
- Identify key partners and business development avenues
- Position yourself to gain the maximum advantage of the industry’s growth potential by developing strategies based on the latest operational and regulatory events
- Identify key strengths and weaknesses of the US solar PV market
- Facilitate decision-making based on strong historic and forecast data

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Select License Type

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Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

Site License

Site License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is intended for use by more than one individual, across for example, a site, an office, or a division or country.

Corporate License

Corporate License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is/are intended for use by an organisation in its entirety. For example, if reports are put on an Intranet or if they are distributed or used by more than one office, division, or country operation, then a Corporate Licence is required.

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