Global Solar Manufacturing Industry on an Expansion Mode

Published Date : Feb 10, 2015

The previous year had been a remarkable year for the global solar market. As against the situation in 2013, solar deployment in 2014 had risen by almost 40%. At present, the expanding solar industry provides greater than 173000 employment opportunities and the 3rd biggest solar market all over the world today is the U.S. 

The U.S. solar power sector has been exhibiting several signs of prosperity and growth. Rising demand has attracted a few prominent solar manufacturers, and with the growth in market demand the investments made by the Energy Department will soon reap positive results. Three main solar manufacturing firms that had earlier received funds for further research & development from the SunShot Initiative have declared the establishment of new facilities and factory expansion programs in U.S.  The latest factory that has been set up in Michigan is a 200 megawatt capacity plant and the expansion plan includes the expansion of a manufacturing facility in Oregon. This as a result is expected to create close to 200 jobs in this area and the areas surrounding it. 

Another facility was established in New York which has a capacity of 1 gigawatt. This particular manufacturer has concluded that the prevailing conditions in the market and the U.S. partners are quite favorable for setting up a plant that has double the capacity and magnitude as against that one that was earlier planned. As a response to the same, many overseas solar manufacturing firms have declared plans for evaluating and testing out the market conditions in the U.S. and also for building manufacturing facilities in these areas.