U.S. Solar PV Market Is Expected To Exceed 60.0 GW By 2022: Radiant Insights, Inc
RadiantInsights.com has announced the addition of “U.S. Solar PV Market Trends, Growth And Forecast Report Up To 2022 : Radiant Insights, Inc” Market Research Report to their Database.
San Francisco, United States – August 21, 2015 /MarketersMedia/ —
U.S. Solar PV Market By Application (Utility, Residential, Non-Residential) Is Expected To Exceed 60.0 GW By 2022.
U.S. Solar PV Market is expected to exceed 60.0 GW by 2022. Favorable regulatory framework coupled with federal subsidies and state incentives are expected to be key drivers for solar PV market. In addition, declining equipment cost on account of rapidly increasing installations and improved manufacturing processes is likely to augment market growth.
Utility was the largest application segment, accounting for over 50% of U.S. solar PV market installations in 2014. In addition, non-residential segment is also expected to witness the strong growth at an estimated CAGR of over 15% from 2015 to 2022. High growth can be attributed to federal subsidies and state incentives. Furthermore, growing awareness among consumers regarding environmental protection is expected to boost solar PV market over the next few years.
Further key findings from the study suggest:
• Residential application of solar PV is expected to witness high growth till 2016 due to ITC (Investment Tax Credit). However, post expiry of ITC, market is expected to witness significant slump resulting in higher installations till 2016.
• California has the largest installed capacity for solar PV in 2014 owing to the states exposure to high solar irradiance. In addition, tax subsidies in the state are expected to result in high demand for solar PV installations over the next few years.
• North Carolina is expected to witness the fastest growth owing to increased residential installations in light of the relatively high power prices in the state as compared to other states such as Washington, Louisiana and Kentucky.
• Reduced solar PV module prices in light of increasing installations and technological advancement is expected to boost market demand in the U.S. Furthermore, raw material prices have witness a sharp decline which is expected to promote production of solar PV modules in turn driving the solar PV market.
• Key solar PV module manufacturers include First Solar, SunPower, Auxin Solar, Alps Technology and Solar Cynergy. The market has witnessed significant R&D activities with companies trying to gain competitive advantage using technological developments. First Solar used cadmium telluride thin film technology for PV module manufacturing since it provides highest efficiency and increased output.
Browse full research report with TOC on ” U.S. Solar PV Market Analysis By Application (Residential, Non-residential, Utility) And Segment Forecasts To 2022″ at:
http://www.radiantinsights.com/research/u-s-solar-pv-market-analysis-by-application-residential-non-residential-utility-and-segment-forecasts-to-2022
For the purpose of this study, Grand View Research has segmented the U.S. solar PV market on the basis of application and state:
U.S. Solar PV Application Outlook (Installed Capacity, GW; Shipments, Units, 2012 – 2022)
• Residential
• Non-Residential
• Utility
U.S. Solar PV State Outlook (Installed Capacity, GW; Shipments, Units, 2012 – 2022)
• California
• Arizona
• New Jersey
• North Carolina
• Nevada
• Massachusetts
• Hawaii
• Colorado
• New York
• Texas
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Source: http://www.grandviewresearch.com/
Contact Details:
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
WEB: http://www.radiantinsights.com/
For more information about us, please visit http://www.radiantinsights.com/research/u-s-solar-pv-market-analysis-by-application-residential-non-residential-utility-and-segment-forecasts-to-2022
Contact Info:
Name: Michelle Thoras
Email: sales@radiantinsights.com
Organization: Radiant Insights, Inc.
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Phone: 14153490054
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