Solar market appears primed to flourish
The solar energy industry has great potential in the United States.
Although oil and natural gas expansion has dominated the American energy market in recent years, solar developers think their field could be the next big thing.
Federal tax incentives meant to stimulate growth in the industry were recently extended by Congress for eight years; solar photovoltaic panels – the most expensive component in building rooftop arrays for homes and businesses – are expected to come down in price by 10 percent to 25 percent in the next year; and companies from around the globe are testing technology that allows utility-scale solar thermal power plants to store the heat of the sun in molten salts so they can produce electricity long after the sun goes down.
Venture capital investment in privately owned solar companies has grown by double digits for the past few years. Read full story:
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