United States Solar Energy Market to grow at steady rate through 2026
Government initiatives towards
green energy and rising awareness to drive United States Solar Energy Market
through 2026
According to TechSci Research report, “United
States Solar Energy Market By
Technology (Solar Photovoltaic (PV), Concentrated Solar Power (CSP)), By Solar
Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon
Cells, Others), By Application (Residential, Commercial, Industrial), By End
Use (Electricity Generation, Lighting, Heating, Charging), By Installation
(Ground Mounted, Rooftop), By Region, By Company, Forecast & Opportunities, 2026”, United
States Solar Energy Market is expected to grow at a brisk rate during the
forecast period on account of taxes on imports, rising awareness towards the
green energy and government initiatives and policies. In addition, to be part
of Paris Climate Accord administration must fully adopt renewable energy
resources to have net zero carbon emission by 2050 so it will continue to boost
the support solar energy market.
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United
States has imposed 30% taxes on the solar imports from other countries thereby
consequently boosting the local manufacturers to seize the market by making
quality products. Also, United States will be independent on many factors
associated with importing from other countries and the local market will not
disrupt in case of any discrepancies from outer markets.
However,
high tariff rates imposed by the previous government has led to loss of
employments of many people and is expected to effect solar energy market
adversely. Also, MFA is going to include solar energy for tax incentives which
will affect the solar energy market positively.
Due
to COVID-19 lockdown there is hinderance in the supply chain of the solar
energy market which in affecting the export/import of the raw materials for the
solar energy market. Also, due to limited availability of raw material prices
are expected to be shot up and impact the United States solar energy market.
Additionally, solar energy industry was expected to employ many people, which
is also affected negatively due to the lockdown. The prices for the solar energy
products declined due to the less demand for the products globally. It will
accelerate the sales of the solar energy products and propelling the market to
grow in positive direction.
SolarCity
Corporation, Solar Five, LLC, SunPower Corporation, Horizon Solar Power, Sunrun
Inc., James Petersen Industries, Inc., First Solar, Inc., Trinity Solar, Inc.,
Suniva Inc., eSolar Inc. are the leading players operating in United States
Solar Energy Market. Solar energy manufacturers are increasingly focusing on
developing and manufacturing high-tech products for solar energy in United
States. To meet evolving customer demand with respect to better efficiency and
durability, several solar energy product manufacturers are coming up with their
technologically advanced offerings.
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“In 2020,
United States Solar Energy market was flourishing and was in great demand. Due
to the outbreak of COVID-19 pandemic, complete and partial lockdown were
imposed in several countries of United States to stop the virus spread, which resulted
in disruption of the supply chain of the products and the imports from the
other countries. It is expected that due to government initiatives to boost the
local manufacturers of the solar energy and tax compensations for the
installation of the solar energy and reduced cost for the solar energy products
will drive the market growth through 2026 ,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“United States Solar
Energy Market By
Technology (Solar Photovoltaic (PV), Concentrated Solar Power (CSP)), By Solar
Module (Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon
Cells, Others), By Application (Residential, Commercial, Industrial), By End
Use (Electricity Generation, Lighting, Heating, Charging), By Installation
(Ground Mounted, Rooftop), By Region, By Company, Forecast &
Opportunities, 2026” has evaluated the future growth potential of United
States Solar Energy Market and provided statistics & information on market
size, shares, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the United
States Solar Energy Market.
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