Solar energy market predicted to triple by 2012

The U.S. Solar Energy Market, recently released by SBI, Specialists in Business Information, indicates that several factors favorable to the industry will propel the market past the $3.8 billion in solar power revenues achieved in 2007: solar power's technological momentum, increasing private-sector solar investment and growing public-sector support.

Despite these favorable factors, says the report, major obstacles must still be overcome before the solar energy market reaches the mainstream.

The report finds that the biggest challenge could be economic. Pricing, affordability, financing and lack of investment are preventing solar energy from advancing as explosively as it could. Other obstacles include potential supply shortages, unfavorable legal structures, utility barriers and lack of skilled laborers.

"Solar energy is a rapidly growing industry, particularly now that the U.S. government seems to be getting behind solar energy," comments Tatjana Meerman, publisher of SBI. "In the past, there was little support; however, recent incentives from Capitol Hill provide users of solar energy with tax credits and rebates on solar systems.

According to Meerman, another significant movement occurred in 2006 with President Bush’s Solar America Initiative, which provided funding to solar energy manufacturers for research and development of new technologies.

The U.S. Solar Energy Market report examines the dynamics both pushing solar forward and holding it back. Comprehensive data on shipments, along with sales estimates and five-year projections, are provided for the two major solar categories: photovoltaic and solar thermal, with a special focus on concentrating solar power. The report also analyzes key trends and profiles major competitors in the marketplace.

For the complete report, visit: http://www.sbireports.com/Solar-Energy-1610062/.

SBI publishes research reports in the industrial, construction, materials and consumer goods markets.