Solar Power in the US - Industry Market Research Report

Solar Power in the US - Industry Market Research Report

  • December 2020 •
  • 50 pages •
  • Report ID: 499234 •
  • Format: PDF
Ray of light: Government support will likely continue to help the industry compete with other energy sources


Solar Power in the US
The Solar Power industry has experienced clear skies over the five years to 2019, propelled by favorable government incentives in the form of renewable portfolio standard (RPS) targets and tax credits. RPS legislation, currently implemented in 29 states and territories, requires local utilities to generate a percentage of their total energy portfolio from renewable sources. Meanwhile, increased public support for green energy has led to tax incentives and grants to encourage investments in solar power. Federal and state government assistance for renewable energy has led to exceptionally strong growth in solar power. The increase in projects over the past five years exemplifies a triumph for industrial policy in solar power, which historically struggled to compete with established energy sources, such as coal and natural gas. Over the five years to 2024, industry revenue is expected to increase. Government support will continue to help the industry compete with other energy sources, at least for half of the coming five-year period. State mandates for renewable energy power and lower input costs will continue to translate into sustained revenue growth.

Operators in this industry own and operate solar-power-generating facilities in the form of either photovoltaic panels or solar thermal power stations that make use of mirrors or lenses to concentrate the sun’s energy. This industry covers utility-scale solar and does not include distributed energy.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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