The PV market in the United States grew at a rate of 36% to 485 Megawatts in 2009 to $2.7 billion and growing to over $10 billion by 2011. Now the solar market is expected to reach $125 billion by 2016. If the US growth rate keeps pace, which the Obama administration aims to do, the USA market will outpace the world market because we are so far behind and ABCO Energy will be a very large part of this growth.
At a Glance
- Total worldwide PV (photovoltaic) installation was 64.5 Gigawatt (GW) in 2011, and is projected to grow to 330 GW in 2020.
- The US solar market is one of the fastest growing, 30% annually in 2013, with a projected 1 million installations by 2016.
- Solar is predicted to be the fast growing market in the world for the next 25–50 years.
- The Department of Energy predicts that as the cost per watt of solar systems declines, the levels of market penetration will change dramatically.
Since the majority of the growth is going to be in the Sunbelt states where we are focused, we expect to outpace the rest of the US growth. We will qualify for larger and larger contracts as we become funded and bondable until we hope to reach just a 1% share of the total US market in five years.
The market for alternative power sources is one that has been growing steadily since inception and has grown consistently for over 25 years. The rising cost of fossil fuel, and the uncertainty in continued distribution and availability of gas and oil from the Middle East, South America and other sources out of our control has spurred an increased interest in Solar Power.
Additionally, many federal, state and local government agencies are facing EPA sanctions including the loss of Federal Highway Funds because of excessive Ozone days due to pollution from fossil fuels. The mandate published by the Department of Defense orders its departments to reduce the amount of fossil fuel used by 2% per year through 2025.
The new total market for practical alternative power sources has been clearly defined by the Obama administration. Our company is addressing several defined markets because of their unique capabilities and solar products to meet the challenges of the new government initiatives.
The users are Commercial and Industrial companies, fire stations, law enforcement agencies on a local, state and national level, Department of Defense (“DOD”) for all branches of the Military, Department of Homeland Security (“DHS”) for all first responders, and all border patrol activities.