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Solarbuzz Predicts Solar Market Will Grow Tenfold by 2014

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Solarbuzz US Solar Power.png Even with the recession, the US solar market will continue to rapidly expand, according to a new report by research and consulting company Solarbuzz. The company (part of the NPD Group) said that the market grew 36% in 2009--granted, a slowdown from its 62% growth in 2008. Despite this slowdown, though, Solarbuzz is predicting a tenfold market growth by 2014, from a demand of about half a gigawatt in 2009 to 4.5-5.5 GW.

According to the report, the U.S. solar market is the third-largest in the world, behind Germany and Italy; California accounted for half of U.S. solar installations. Among installation companies, SunPower installed the most; Chevron Energy and SPG Solar took second place. The growth will take place largely in residential installations, thanks to growing interest and government rebate programs. More information available here; buy the report ($4,995!) here.

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