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Solar Industry Grows Amidst Diminishing Government Support

Flower into the SunThe solar industry continues to grow across the globe, with the American market holding strong.

Over the past year, the solar energy market has seen a few hiccups, but overall, the market has held fast with a 12 percent increase in earnings. Here are some quick facts about a recent report released by GTM Research and the Solar Energy Industries Association regarding the optimistic solar industry:

  1. In 2011, 1,855 megawatts of photovoltaic projects were built – that’s up from 887 megawatts in 2010.
  2. The total solar energy projects built totals $8.4 billion.
  3. 2011 broke fourth quarter records, with 776 megawatts in projects built.
  4. Installation costs for the average solar project in 2011 dropped 20 percent last year.
  5. These new figures rank the US as the fourth largest solar market in the world behind Germany, Italy, and China.

While the growth of the solar energy market is great news for the American solar industry, it’s not met without challenges. In the Senate this week, government leaders shot down a proposal to increase subsidies for natural energy. Michigan Senator, Debbie Stabenow proposed a 2.2 cents per kilowatt hour subsidy that, though supported by 49 Democrats, was not passed in the Senate.

The solar energy market continues to soar despite wavering support from many of our nation’s leaders. If you’re interested in supporting natural forms of energy and want to see more tax subsidies, contact your local representatives and show your solar support!