Investments might be down a bit this year but it seems the outlook for the solar energy industry is still pretty darn bright, according to this study from SRI Consulting.
SRI said the global solar energy market is projected to more than double to reach $70 billion by 2013. Solar cell efficiencies of organic photovoltaic technology are said to have reached over 5% but silicon based cells in the commercial photovoltaic industry are still the predominant technology because of higher efficiencies reaching over 25%.
In Pennyslvania, the state's governor believes the solar energy industry will great green collar jobs that's why Governor Edward G. Rendell recently announced a new $80 million incentives for projects that generate and use solar energy, or that manufacture and assemble solar equipment.
"There are tens, if not hundreds, of millions of dollars in solar energy projects now looking for a home. Other states and nations are competing for those projects and the good jobs they'll create."One of those states is Tennessee which is offering to cover the cost of any future carbon tax for green companies that make major investments in the state. Wacker Chemie and Hemlock Semiconductor are already investing new polysilicon plants in the state.
Under Pennsylvania's solar energy incentives, solar energy generation or distribution projects and solar R&D facilities are eligible for loans of up to $5 million or grants of up to $1 million.
Companies that manufacture solar components for renewable-energy generation equipment may receive loans of up to $35,000 for every new job they project to create within three years after being approved as well as receive grants of up to $5,000 for each new job created.
More recent investment news on solar:
- Solar Panels at Budweiser Brewery Now Providing Power
- Wal-Mart to Nearly Double Solar Energy Use in California
- PG&E makes deal for space solar power