ATLANTA, Feb. 16, 2011 /PRNewswire/ -- Despite constituting less than six percent of worldwide installations in 2010, the United States is well positioned to become the focus of the global photovoltaic (PV) industry in the coming year, according to a whitepaper released today by international solar power developer Enfinity. Titled "The U.S. PV Market in 2011", the report, produced in partnership with GTM Research, analyzes the key market drivers in the U.S. solar PV industry and predicts that 2011 will be a vital growth year for the country's solar market.
"All eyes are on the U.S. PV market in 2011," said Rafael Dobrzynski, Enfinity's CEO in the Americas. "Being active in Europe as well as the Americas, we continually get questions—from both sides—about the U.S. market's potential, demand ramp-up, and the reality of a national Feed-in-Tariff. Our white paper addresses these key issues as we delve into all these areas and provide valuable insights with hard numbers attached."
Enfinity's white paper identifies three factors that provide the United States with enormous, long-term potential for sustainable PV market growth:
- The United States is home to an excellent photovoltaic resource. While the Southwest provides the highest insolation, or exposure to the sun's rays, even northeastern states offer insolation that is, at a minimum, equal to or greater than the resources of Germany.
- There is ample availability of land for PV development. The western states, in particular, have large tracts of open land that could support large PV installations.
- Electricity demand in the United States is the highest in the world. Electricity consumption in the United States is roughly 7.2 times the total in Germany and nearly 15 times as much as Spain. In 2010, U.S. PV installations more than doubled to an estimated 820 MW, up from 435 MW in 2009. While other markets such as Spain, Germany and the Czech Republic have faced drastic shifts, the United States has seen steady, if incremental, year-over-year growth.
Shayle Kann, managing director of solar at GTM Research, said, "It is difficult not to be bullish about the U.S. PV market. The economics have never made more sense. As PV system costs fall, electricity prices rise, and project finance returns to the table, the U.S. market is inching closer to reaching its potential as the center of global PV demand."
"The U.S. PV Market in 2011" white paper can be downloaded free of charge here.
Founded in 2005, Enfinity is now an established leader in the field of commercial solar photovoltaic (PV) energy, with operations in North America, Europe and Asia-Pacific. The company finances, develops and builds solar PV projects and also owns its own portfolio of renewable energy installations. Enfinity has been selected to build some of the largest renewable energy projects across the globe, with 200 MW installed and operational worldwide. Further information is available at www.enfinitycorp.com.
About GTM Research
GTM Research, a Greentech Media company, provides critical and timely market analysis in the form of concise and long-form market research reports, monthly newsletters and strategic consulting services. The company's analyst team combines diverse backgrounds in the energy, environmental, emerging technology, investment banking, information technology and strategic consulting sectors. Further information is available at www.gtmresearch.com.