During a recent press teleconference hosted by the Solar Energy Industries Association (SEIA) information and statistics were revealed to show that solar power is a growing industry in the United States. In fact, it is the fastest growing industry in the nation.
This is good news all around. More solar power demand means more solar jobs. Currently, over 100,000 people in the U.S. are employed in the solar industry. SEIA expects that number to double in just 24 months. With this meteoric growth, the United States is on track to be the world’s largest solar market in the near future.
SEIA is leading efforts to retain a solar tax grant program that doubles the efficiency of the Investment Tax Credit. The program allows at 30% grant in lieu of tax credit. If the so called “1603 program” is extended another 5 years, more solar jobs will be created. Moreover, these tax grants help keep solar financing companies like Sungevity, SunRun and SolarCity in business.
While it is uncertain whether the tax grant program will be extended beyond 2011, current investment in solar is strong, and the growth of solar is expected to double from 1 gigawatt in 2010 to 2 gigawatts this year.