U.S. Solar Market Will Add 1 GW of New Capacity in 2010, Report Predicts

A market analysis of the U.S. solar industry predicts that nearly 1 gigawatt of added capacity will be installed in 2010, a 114 percent increase from last year. About 314 megawatts were added during the first six months of the year, according to the report by the Solar Energy Industries Association, a trade organization. And with a major concentrated solar power project and several photovoltaic projects expected to come on line during the second half of the year, the report predicts about 944 megawatts of new capacity will be added during 2010.

Of that new capacity, 866 megawatts will come from photovoltaic technology, according to the report. While the fastest growth during the first six months of 2010 occurred in California and New Jersey, nine other states saw installation of more than 10 megawatts. The group cites a fall in module prices, federal incentives, and state targets for renewable energy as critical factors in the growth of solar power installation.