Nov 24 2009
A wide range of energy technologies is usually provided by the United States. The federal level tax credits and depreciation incentives of these energy technologies are currently regarded as insufficient. This hinders the nation’s growth in fulfilling various solar energy demands.
Incentives are now provided by other municipalities and states through a number of discounts, fed-in tariffs from Europe, renewable energy credits, and property tax credits. The United States is finding it difficult to supply funds for solar projects due to the financial crisis they are experiencing. Because of this, even banks have refused to sanction loans for US based solar projects. In view of this growing problem, the research report analyses this problem and has come up with a conclusion that an increase in incentives should be primarily carried out at the federal level.
In the next five years, the demand for US energy technologies is expected to grow with the contribution of incentives from the state and federal levels that includes a reduction in the cost of various modules. An increase in demand will thus enable banks to confidently provide funds for various US solar projects that would lead to an increase in the flow of money in the US solar lending divisions. According to forecasts included in ReportLinker’s new report entitled, ‘Financing Structures, Government Incentives, and Market Drivers for Solar Voltaics Projects: 2009-2015’, new solar projects will be developed by the year 2014 with the hope that the American society will accept changes brought about by the Obama administration, which will ultimately result in the US becoming the head of a global solar PV market share holder.
A state wide analysis was conducted by studying the demand for the development of solar PV projects based on the availability of internal rates, incentives from the government and the level of cooperation from the financing organizations. Facts on the leading solar PV markets throughout the world, availability of market opportunities and expenditure for the development of a single solar project are the issues highlighted in the study.
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