PurePoint Energy is attending the CT Farm Energy Fair & so should you!!

We will also be giving a presentation between 5-6pm during this event! Don't miss it!

U.S. Solar Market Trends of 2010

While 2008's Great Recession put a damper on the solar market in 2009, steady growth since then meant a boost for the solar market in 2010. This boom, expected to carry into this year, was facilitated by increased capital through recovery after the economic meltdown, in conjunction with financial stimulus and higher consumer demand.

The U.S. Treasury Grant, for example, was enacted by Congress in early 2009 as part of the stimulus package. The program gives the option of a cash grant for installations-this in lieu of Investment Tax Credit, which was a weaker incentive for consumers. The Treasury cash program, which was originally meant to expire at the end of 2010, was later renewed for 2011. It provided $410 million, funding about 40% of non-residential PV installations in 2010, the tax credit levels of which are set to continue until 2016 (cash grants are up for renewal on a yearly basis). Many federal and state government solar installations were also funded by ARRA, while capital markets recovery for 2010 contributed to the growth of non-residential solar installations by 63%. Prices for PV modules decreased as well, by between 14 and 20 percent, providing a stimulus for areas without local policies already; however, financial incentives will continue to determine where the most solar installations are happening.

The number of installations in the residential sector in particular has grown a lot in the past decade. It increased by 64% and accounted for 91% of the grid-connected PV installations in 2010, but only 29% of the capacity; non-residential systems are, on average, ten times as big as residential ones. The overall PV capacity installed in 2010 doubled compared with 2009 and was over eight times the capacity of PV installations in 2006.

California stayed the state with the most installations, largely thanks to a 10 year, $3 billion program called "Go Solar California" that started in 2007. The state also has a steadily increasing RPS requirement mandating that a certain fraction of the electricity supply be provided by renewable energy. It is planning for 20% by 2013, and 33% by 2020 (Connecticut will be requiring 27% by 2020). In contrast, states like Kentucky with no solar RPS policy or few incentives also have relatively few installations.

In 2011, analysts expect there to be continued growth for the solar market, especially for grid-connected PV systems. Installations doubled in nine states, and will spread to more. As in the past, growth for this market will be predominantly determined by federal and state incentives.

Click here for the entire report and additional information.

Recent Research Confirms That Homes With Solar Sell For More!

     Lawrence Berkley National Laboratory in California has conducted a study comparing 2,000 homes equipped with photovoltaics to comparable homes without solar. The Lawrence Berkley lab is supported by the U.S. Department of Energy and was conducted by the renewable energy research group, which conducts public-interest studies on renewables, including policies, costs and financing.

     Their research suggests that a house with a 5 kW solar system sells for $19,500 to $32,000 more than comparable homes without solar systems. This is useful and hopeful information for those looking to invest money into PV systems and are worried about being in their homes long enough to earn back the money that they put into their solar investment. This study also found that new homes with PV systems had a lower premium than existing homes, $2.30 to $2.60 per W compared to over $6 per W value.

     This study proves that there can be great financial benefit in more ways that just one when you invest in solar, however local market conditions do vary from state to state. Electricity prices and installation prices do affect the financial benefit of solar, so the next step to take is to apply this study to other states and see if the results coincide with those from California. Overall, the results of this study are very positive for the solar industry. Not only do solar consumers save on their electricity bills, but they can see money coming back to them if they decide to sell their homes.