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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