Future of US Solar Industry is Bright, a Recent Poll Shows

Well, solar industry leaders have spoken and they say the solar industry has weathered the recession positively. Nearly all companies expect growth in the next two years.  Nearly 100 professionals in the industry participated in the US Solar Industry Monitor poll conducted by Droege & Comp., an international management consultancy, and Gibbs & Soell, an independent global public relations firm from which these findings are derived.

Major Solar Findings Include:

• 64.9% responded that the recession has not dealt a crushing blow to their business.
• 92.6% expect their business to grow in 2010 and 95.1% expect the growth to happen in 2011.
• 37.3% expect a growth of more than 25% in 2010 and 55% expect similar growth in 2011.

Main Obstacles to Growth Include:

• Lack of financing 81.8%
• Little support from utilities 62.9%
• Lack of consumer knowledge 61.3%
• Insufficient incentives 59.1%

Nearly 83% of businesses are planning on upping their marketing and informational segments in the coming years. The emphasis for the distribution of the information will be throughout all channels of media, internet, print, and all the rest, according to Renewable Energy World.

In expectation of strong competition in the coming years, companies are considering things like ramping up production, increasing US supply and some are considering the mergers and acquisitions markets.

For the complete findings of the US Solar Industry Monitoring poll, click here.

Photo Credits: ConSolar

Posted on November 2nd in Solar News by Craig.