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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 (
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.
If you are interested in more information on this research, please send an email to
Britni Myers, Corporate Communications, at
firstname.lastname@example.org, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
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.