While European nations, led primarily by Germany and Italy, have helped to turn 2010 into a blossoming year for the global solar energy industry - thanks largely to government funding - the U.S. has lagged behind.
However, many analysts are predicting 2011 will be a breakthrough year for the burgeoning U.S. market, especially after the recent extension of a federal tax credit incentive program that helps cover up to 30 percent of the costs of new solar installations.
"It took a year of tireless effort from the entire solar industry and our champions in Congress to get an extension of the 1603 program,"said Rhone Resch, CEO of the Solar Energy Industries Association. "President [Barack] Obama and our bipartisan champions in the Senate and House recognize that the solar industry is one of the fastest growing industries in our country, and this extension will create tens of thousands of new jobs for Americans."
California is expected to lead the charge, as the state has already passed a number of laws requiring utilities to receive their power from renewable energy sources - the most prominent of which mandates state utilities acquire 33 percent of their energy from clean sources by 2020. The measure is hoped to incentivize clean tech entrepreneurs seeking to incorporate in California.
Tags : ca, llc formation, small business management
Posted: Dec 29th, 2010