Last week the president of America’s Solar Energy Industry Association (SEIA), Rhone Resch, used a speech at a solar energy conference to congratulate the sector on its tremendous growth in 2010 and to highlight the solar industry’s importance to the US bottom line.
Speaking at the PV America Conference 2011 at the Pennsylvania Convention Centre, Philadelphia, Mr Resch said the Mid-Atlantic region had become the largest market for solar PV installations in the USA, beating even sunny California.
“Since the last time I stood here on this stage – only two years ago, this state’s solar market has grown 1,000 percent. This is a trend we are seeing in state after state in this region,” Mr Resch said in welcoming speech to representatives of Philadelphia’s solar PV business community. “Going forward, the Mid-Atlantic region presents one of the biggest opportunities in the country for you to grow your business.”
The SEIA CEO said research showed the region could expect a three gigawatt (GW) increase in demand for solar panels by 2015.
Mr Resch called solar energy the fastest growing industry in America, pointing to a recent report commissioned by SEIA and GTM Research which found that in 2010, 878 megawatts (MW) of grid connected PV was installed, more than double that of 2009.
“The report also shows that US solar revenue grew from $3.7 billion to more than $6 billion a year – a growth rate of 67 percent, while the rest of the US economy grew at less than 3 percent. We also attracted more venture capital than any other industry in the US,” Mr Resch said.
He said the SEIA had been instrumental in winning an extension of the Federal Government’s 1603 Tax program, which provides loan guarantees for renewable energy investors.
Mr Resch also called for a four-part plan to improve finance arrangements for solar and other renewable energy projects, including establishing a Clean Energy Bank, a multi-year extension of 1603, and cutting tax red tape for investors.
