Thursday, August 20, 2009

Solar Energy Projected Growth

With all the hype about photovoltaic solar energy, the only question is how much is it going to take off. According the projection below, renewable energy is expected to multiply by a factor of 7. This means that the solar industry will increase from $13 billion in 2006 to more than $65 billion in 2016.

A large portion of the solar growth will come from federal funding. The government is currently using solar funds in a manner that fosters competition. Homeowners and businesses currently pay for half a solar system (with the other half payed for by the incentives and tax rebates). Since a typical solar system costs $20,000 or more, significant investment is required. <read more>

Posted via web from bestenergynews's posterous

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