Solar industry fears loss of federal finances


Photo by Christine, Flickr

The solar energy industry has experienced quite the boom recently.  Their installations doubled in 2010 and have the potential to do the same in 2011.  However, that kind of growth could come to an end should two important federal programs stop providing some crucial financing.

Solve Climate News reports:

U.S. solar energy installations are poised to double in 2011 for the second year in a row, but the industry could fall short of its lofty, long-term goals for growth if two key federal programs dry up, officials say.

“We are in reach of our goal of installing 10 gigawatts of solar annually by 2015. That’s enough to power more than 2 million homes with clean reliable solar energy each and every year,” Tom Kimbis, vice president of strategy and external affairs for the Solar Energy Industries Association (SEIA), told reporters on a conference call.

“But to reach that goal, Congress needs to make the right investments in solar energy,” he said.

Around 1,800 megawatts of solar power will be installed in the U.S. this year, up from the 887 megawatts installed in 2010, Shayle Kann, managing director of solar research at GTM Research, said on the call.

“This is going to be a time when we see enormous changes … and everything that comes with the maturation of a sector is going to be compressed into a very short period of time over the next year and a half in the U.S.,” Kann added. Continue reading