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The booming solar power industry

Despite recent misconceptions regarding the uncertainty of the solar power industry, the “Q3 PV Demand Report” released by IMS Research have shown that the solar power industry is ever growing, with the US solar power market expected lead the world in solar photovoltaic installations. According to the report, the US solar power installation capacity has reached 1.7GW in the first half of this year alone, accounting to a 120% growth in the PV industry. The astonishing growth is expected to make the United States the third largest solar power market in 2012 according to the report.

These figures are supported by a “Renewable Distributed Energy Generation” report by market research and consulting team Pike Research earlier this month which have predicted that solar power installations will reach 63.5 gigawatts by 2017. Contributions to this growth included the drastic drop in solar panel by around 70 per cent over the past 5 years.

With the continuous popularity in solar power installations coupled with the reduction in solar material costs, a rooftop solar power installation has now become a reasonable alternative in combating the rise in electricity costs as well as a reduction in carbon footprint. True Value Solar provides a range of high quality solar power systems at reasonable costs. For further information, contact one of our solar specialists on 13SOLAR (13 76 52).

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