
The U.S. market for solar photovoltaic power is poised to experience significant growth, according to the United States PV Market Report recently released by research company Solarbuzz.
According to the report, the domestic solar PV market will double by the end of 2011, making the United States the third-largest solar PV market worldwide, after Germany and Italy.
A mixture of government incentives and market forces are driving the U.S. solar PV expansion, the report indicates. Treasury grants and tax credits are fueling private investment in the solar PV industry, while states' renewable energy goals are stimulating sales. Recent declines in component prices further stoked investment in this type of green energy, which converts the sun's power into electricity using photovoltaic panels or cells.
California, which has a renewable energy goal of 33 percent, accounted for a third of the U.S. solar PV market in 2010, followed by New Jersey, Arizona and Colorado, according to Solarbuzz. Nevada was a new addition to the list of top 10 states for solar PV marketshare, thanks in large part to a 48 megawatt solar PV plant recently constructed in the state.
The Solarbuzz report accords with the recent Ernst & Young Renewable Energy Country Attractiveness Index. The index named the United States the most attractive worldwide market for solar energy on the strength of its PV investment during the first quarter of 2011.

