A new report by the Solar Energy Industries Association (SEIA) and GTM Research entitled, U.S. Solar Energy Trade Assessment 2010, found that the U.S. not only has a strong solar industry, but is a leader in the net exportation of solar energy products. In 2009, US$723 million worth of net exports came from the U.S. alone.
“Solar is a global industry. The U.S. imports and exports products from every continent. But in addition to being a major net exporter of solar energy products, the industry is creating significant wealth in the United States and jobs in all 50 states,” said Rhone Resch, president and CEO of SEIA. “We’re pleased that the solar industry is helping to reduce the U.S. trade deficit through significant exports of solar energy products. We are seeing investments in U.S. manufacturing in areas of the country hit hard by the recession – Tennessee, Michigan, Ohio and others. But we’re concerned that there is a lack of stable, long-term federal policies in the U.S. amidst an increasingly competitive global marketplace. Even modest federal policies like expanding the 48c manufacturing tax credit can help the U.S. solar industry remain one of the few sectors of our economy that is a net exporter, while creating tens of thousands of jobs,” Resch concluded.
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Even further demonstrating the strength of the U.S. solar market was the report’s detailing of the US$2.6 billion in direct value the U.S. solar installations brought to the country’s economy last year.
“This report provides the most comprehensive outlook on U.S. solar energy value creation and trade flows ever published,” said Shayle Kann, managing director, Solar at GTM Research. “In addition to examining the location of final assembly of solar products, it considers earlier steps in the value chain and non-component costs such as installation labor, system design and permitting. These factors, which make up more than half of total system costs, are a vital part of any solar project.”
The full report can be viewed here.