In the US residential segment, photovoltaic (PV) installations have been increasing on the back of various factors, including easy credit facilities, and highly subsidized modules & panels. According to RNCOS latest research report “US Photovoltaic Market Analysis”, these factors will continue to drive PV installations in the US residential segment. The study anticipates that the US residential sector’s PV installed grid capacity will cross the 625 MW-mark by 2014, recording a phenomenal compound annual growth rate. It also estimates that the PV installed grid capacity will grow at the highest rate in residential sector during 2012-2014 as compared to non-residential and utility sectors.
As per the report’s findings and analysis, the government support and incentives will also keep on giving a significant boost to the US PV industry, strengthening its position in the global PV arena. Remarkable efforts for further research and development, lessening cost differentials between solar and traditional energy sources, environmental concern, and emission regulations are encouraging the public and private sector in the US to concentrate more on the PV industry developments. Due to such efforts, and various awareness programs which promote advantages of green energy, the future of residential PV installations in the country seems bright.
The research report focuses on the growing marketplace for the PV industry at the national and state levels, and analyzes the current market trends along with future growth prospects. Evaluating the prominent market segments, including residential, utilities, and non-residential sectors, the study includes statistics, information, state-level analysis, PV cost benefit trends, module-wise cost forecasts, and utility scale solar facilities to help clients identify the factors critical for their successful market penetration. This way, it aims at portraying a clear picture and balanced outlook of the US PV industry to the clients.
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