A recent study by GTM Research, a market analysis company focusing on renewable energy industries, estimated that the U.S. solar market could grow eightfold to $8 billion by 2015. Driving such growth are state policies that require power companies to generate a certain portion of their electricity from renewable sources. Generous federal and state government tax credits aimed at spurring clean energy sector growth have also made such investments more competitive with already-subsidized, traditional fossil fuel plants.In late November, for example, a Seattle-based solar developer, Summit Power, teamed up with one of the world’s largest manufacturers of photovoltaic solar panels to form a joint venture to build solar plants in the western United States. The new company, NorthLight Power, has signed a contract to provide a California electric utility with power from a 60-megawatt solar farm that will be built in California’s sunny Central Valley and go online in mid-2013. Read more.
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