The Rise of Solar: 2014 Was a Banner Year
Sustainable Business : “2014 will be the best year yet, with another 7.4 GW of solar PV added – a 42% jump from 2013, another very strong year . That brings the US total close to 20 GW and it’s expected to double again in the next two years!”
“This year, the US solar industry crossed the threshold – providing 1% of US electricity . If it reaches 50 GW by the end of 2016, as Deutsche Bank projects, it will be supplying 2%.”
What accounts for the growth? “The sharp drop in solar prices – down 53% since 2010 – and cheaper financing costs. Even if federal tax credits change, Deutsche Bank expects financing costs to fall from 7-9% now to around 5.4% next year, helping new financing models like Yieldcos, solar loans, asset backed securities and retail bond offerings.”
“Signaling the growing importance of solar energy to America’s future, the widely read and cited annual State of American Energy Repor t includes, for the first time ever, a comprehensive section on the rapid growth of the U.S. solar energy industry and its impact on our nation’s economy and environment,” reports Eco Watch .