Solar Panel Installations Set to Double Again in 2011

2011 is coming in to focus with solar panel installations in North America that are forecast to double from 2010. A new study by IDC Energy Insights predicts that 2011 will see two Giga Watts (GW) of new solar PV installations in North America alone. This figure represents a doubling of the One Giga Watt of new installations in 2010, which in turn was double the 440 Mega Watts (MW) installed in 2009.

This strong solar growth is being driven by several favorable factors; chief among them is the remarkable drop in the price of solar power panel products themselves. Solar Panel Manufacturers around the globe are locked in a race to produce an ever larger number of solar panels at lower prices. The principal beneficiaries of this world wide solar manufacturing completion are homeowners.

Almost all carbon-based energy benefits from incentives and/or tax breaks, and Solar Power is no exception to this rule. Government incentives and policies are accelerating this growth, with incentives such as the feed-in tariffs in Ontario and solar carve-outs in renewable portfolio standards in states across the US.

According to Lead Analyst Jay Holman, “While solar subsidies undeniably underpin much of this growth, the young solar PV industry has been rapidly innovating in ways that make solar PV systems more cost effective, easier for solar installers to install, and easier to maintain.” Ultimately, Solar Power will be competitive even without government incentives, but for the go-go years to come falling prices and incentives will ensure that the rate of solar panels installations will continue to grow rapidly.

Source: Boots on the Roof