The Future of the US Solar PV Equipments Market by GlobalData

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The Future of the US Solar PV Equipments Market

Summary

The US federal government has provided a funding of $3.1 billion to the states, as part of its economic stimulus package, to encourage photovoltaic (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 government has also extended federal tax credits for solar PV. These support mechanisms combined are expected to open up high-growth markets for PV equipments such as inverters and modules. The PV inverter market in the US is therefore expected to generate an estimated $347.90 million by 2013, while the modules market is expected to generate $2,741 million by 2013.

Scope

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									The Future of the US Solar PV Equipments Market
Reference Code: GDAE0059VPT Publication Date: JUL 2009

Alternative Energy Viewpoint
© GlobalData: This brief is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0059VPT / Published JUL 2009 Page 1

Table of Contents

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Table of Contents
Table of Contents
List of Tables List of Figures

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GlobalData Viewpoint
Summary

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3.1 3.2 3.3 3.4 3.5

The Future of the US Solar PV Equipments Market
The US Solar PV Systems Market The US PV Modules and Inverters Markets Regulatory Push from the Federal Government State-level Drivers Conclusion

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Appendix
Methodology About GlobalData Contact Us Disclaimer

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Alternative Energy Viewpoint
© GlobalData: This brief is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0059VPT / Published JUL 2009 Page 2

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Table 1: Table 2: Table 3: Table 4: Table 5:

List of Tables
The US Solar PV Systems Market, Historical and Forecast Revenues, $ Million, 2001-2013 ..............................7 The US Solar PV Modules Market, Historical and Forecast Revenues, $ Million, 2001-2013 .............................9 The US Solar PV Inverters Market, Historical and Forecast Revenues, $ Million, 2001-2013 ............................10 The US Solar PV Market, State Renewable Portfolio Standards and Policy Incentives, 2008............................12 The US Solar PV Market, State-wise FIT Rates, $/kWh ...........................................................................................13

Alternative Energy Viewpoint
© GlobalData: This brief is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0059VPT / Published JUL 2009 Page 3

Table of Contents

1.2

List of Figures
The US Solar PV Systems Market, Historical and Forecast Revenues, $ Million, 2001-2013 .............................6 The US Solar PV Modules Market, Historical and Forecast Revenues, $ Million, 2001-2013 ............................8 The US Solar PV Inverters Market, Historical and Forecast Revenues, $ Million, 2001-2013.............................9

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Alternative Energy Viewpoint
© GlobalData: This brief is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0059VPT / Published JUL 2009 Page 4

GlobalData Viewpoint

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2.1

GlobalData Viewpoint
Summary
The US federal government has provided a funding of $3.1 billion to the states, as part of its economic stimulus package, to encourage photovoltaic (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 government has also extended federal tax credits for solar PV. These support mechanisms combined are expected to open up high-growth markets for PV equipments such as inverters and modules. The PV inverter market in the US is therefore expected to generate an estimated $347.90 million by 2013, while the modules market is expected to generate $2,741 million by 2013.

Alternative Energy Viewpoint
© GlobalData: This brief is a licensed product and is not to be photocopied Source: www.alternativeenergyetrack.com

GDAE0059VPT / Published JUL 2009 Page 5

GlobalData Viewpoint

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The Future of the US Solar PV Equipments Market
The Obama Administration in its economic recovery package has prioritized solar PV deployment and expansion as one of its key agendas. Solar PV promotion and development are expected to make the nation eco-friendly, help in battling climate change and revive the country for sustainable economic development. The federal government has provided $3.1 billion for the promotion and development of PV in the respective states through the Department of Energy (DOE). This has promoted several states to revise their PV targets for the better and come up with PV support programs. This is expected to give an unprecedented boost to the PV equipments market in the country.

3.1

The US Solar PV Systems Market
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 $1,397 million by 2008 at a CAGR of 33%. The solar PV systems market in the US is expected to grow from an estimated $1,698 million in 2009 to $5,271 million by 2013 at a CAGR of 33%.

Figure 1 shows the historical and forecast revenues for the US so
								
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