US Solar Industry Year in Review 2008
The U.S. solar energy industry grew to new heights in 2008 and many industry observers expect that growth to continue in 2009. Total capacity grew by 1,265 megawatts (MW)1 in 2008, up from 1,159 MW installed in 2007.2 This brings the total installed capacity up by 17 percent to 8,775 MW. ...expand
The industry saw some of the most significant national solar policy victories in history in late 2008. The Emergency Economic Stabilization Act of 2008 (EESA), passed on October 3, extended the 30-percent solar Investment Tax Credit (ITC) for eight years, lifted the cap for residential PV installations, allowed application of the tax credits against the alternative minimum tax (AMT) and removed the prohibition against utilities’ use of the ITC. This long-term policy stability will help companies in the U.S. solar market make longer-term investment decisions and attract better financing.