Solar & Renewable Energy Manufacturing

Solar & Renewable Energy Manufacturing

North American solar energy capacity has grown at an astounding 59% over the past decade, with over 11 gigawatts (GW) installed in 2018 alone, according to the Solar Energy Industry Association (SEIA) and The Solar Foundation.

A Rapidly Expanding Market Presents Opportunities for International Equipment Manufacturers

With the cost to install solar dropping by more than 70% since 2010, the industry has continued to expand into new markets.  Combining falling prices and a growing concern over environmental and geopolitical issues surrounding fossil fuels, the increased demand for solar power by residential, commercial, and industrial electricity generation, is driving most manufacturers of solar module equipment to rapidly ramp up shipments.

Manufacturer Opportunities in the Solar and Renewable Energy Market

Solar power accounted for one-third of all new electricity generation capacity in the U.S. in 2017 while Wind and other renewables accounted for 26%, according to a recent study from SEIA.  Solar producers primarily utilize two technologies to convert energy from the sun into electricity; photovoltaic (PV) power and concentrated solar power (CSP).  PV presently accounts for approximately 90% of US solar energy capacity, while CSP generates the remaining 10%.  The PV solar industry has grown steadily over the past decade, accounting for more than 80% of utility-scale solar projects and is expected to continue to grow 32% in 2018.

Government Support for the Adoption of Alternative Energy Sources

There are numerous U.S. government programs and incentives to encourage the adoption of alternative energy sources, including solar investment tax credits (ITC) that provide 30% tax credits through 2019, with a gradual step-down to 10% by 2022. The ITC was recently extended by the U.S. Congress for an additional 5 years and is expected to lead to more than $125 Billion in new, private sector investment in the U.S. economy during the extension period.

U.S. Solar Facility Locations

Solar electricity is generated throughout the U.S., with the most common location for large solar facilities in Southwest region.  California is the top state based on the amount of solar electricity capacity installed in 2018, according to Solar Energy Industries Association (SEIA), and other leading States include Arizona, North Carolina, Massachusetts, New Jersey, Hawaii, Georgia, Texas, New York, and Colorado.

U.S. solar-generated electricity consumption is forecast to grow at an aggressive compound annual rate of 10% between 2018 and 2023.

Solar Power Generation Industry Participants

Company Sales Employees Location
Chevron Corporation 211,970.00M 64,700 San Ramon, CA
Archer-Daniels-Midland Company 81,201.00M 33,900 Chicago, IL
Comisión Federal de Electricidad 28,412.78M 93,942 Mexico City, Mexico
Berkshire Hathaway Energy Company 17,326.00M 20,900 Des Moines, IA
The AES Corporation 17,146.00M 18,500 Arlington, VA
NextEra Energy, Inc. 17,021.00M 13,800 Juno Beach, FL
American Electric Power Company, Inc. 17,020.00M 18,529 Columbus, OH
NRG Energy, Inc. 15,868.00M 9,806 Princeton, NJ
Hunt UNT Consolidated, Inc. 13,543.24M 2,571 Dallas, TX
Edison International 13,413.00M 13,690 Rosemead, CA
DTE Energy Company 12,301.00M 10,000 Detroit, MI
Hydro-Québec 11,727.32M 20,043 Montréal, Canada
Tennessee Valley Authority 11,137.00M 11,542 Knoxville, TN
Progress Energy, Inc. 10,166.00M 28,344 Raleigh, NC
TransCanada Corporation 8,758.08M 6,059 Calgary, AB, Canada
UGI Corporation 8,277.30M 12,800 King Of Prussia, PA
Eversource Energy 7,741.86M 8,248 Springfield, MA
Nisource Inc. 6,470.60M 8,982 Merrillville, IN
Solar & Renewable Equipment Manufacturers USA

How Can We Help?

Whether you’re evaluating expansion into America or have an established presence, we are available to discuss your current operations and plans for strategic growth in the solar and renewable energy market. With experience and expertise driving the execution of your strategy, you’ll be on the fastest track to growth and profitability.


 

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