Frost & Sullivan: With Competitive Costs, Solar Power Emerges From The Shadow Of Conventional Energy In The U.S.
MOUNTAIN VIEW, Calif., Jan. 10, 2013 /PRNewswire/ -- The adoption of utility-scale photovoltaic (PV) and concentrating solar power (CSP) plants in the United States is expected to accelerate during the next decade. The presence of high solar irradiance, along with continuous pressure from the government to implement renewable energy technologies, fuels demand for solar projects. As solar energy competes with conventional forms of electricity generation, the potential market for utility-scale solar power plants in the country is on the rise.
New analysis from Frost & Sullivan's ( http://www.energy.frost.com) Analysis of the U.S. Utility-scale Solar Power Market research finds that the market acquired investments of more than $1.91 billion in 2011 and estimates this to reach $20.44 billion in 2016.
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Cumulative PV solar installations in the United States reached 1,855 megawatts (MW), with the utility-scale segment accounting for 32.2 percent. Lower solar module prices have led developers of utility-scale applications, such as the Blythe solar power project in California, to opt for PV technologies over CSP."Though no new CSP plants were installed in the United States during 2011, projects totaling more than 1.4 gigawatts were under construction," said Frost & Sullivan Senior Industry Analyst Georgina Benedetti. "These projects in the CSP segment are likely to speed up overall market growth." Expediting solar installations are renewable portfolio standards (RPS), which mandate electricity supply companies to produce a specified fraction of their electricity from renewable energy sources. A few states require some portion of the RPS to come from solar resources.
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