Solar Power Generation
- ID: 1283542
- July 2016
- Region: United States
- 10 Pages
- First Research
Brief Excerpt from Industry Overview Chapter:
Companies in this industry operate solar electric power generation facilities. Major companies include diversified electric utilities and independent producers Berkshire Hathaway Energy, NextEra Energy, Pacific Gas and Electric, and Southern California Edison (all based in the US), as well as United Photovoltaics (Hong Kong), Enerparc (Germany), Lightsource Renewable Energy (UK), and CECEP (China).
Europe is the most advanced market for solar energy generation. Germany leads the world in installed solar energy capacity, followed by China, Japan, the US, Italy, Spain, France, the UK, Australia, and India. China dominates manufacturing of photovoltaic (PV) cells, the leading technology used to produce solar power, accounting for about two-thirds of global production.
The US solar power generation industry includes about 100 establishments (single-location companies and units of multi-location companies) with combined revenue of $430 million that provide a small but growing amount of the nation's electricity. Overall, solar energy accounts for less than 1 percent of the energy consumed in the US.
As with other power sources, demand for solar power is driven by residential, commercial, and industrial electricity demand, which increases with population and economic growth. Additionally, growing concern over environmental and geopolitical issues surrounding fossil fuels has boosted interest in renewable energy sources such as solar.
The profitability of individual companies is determined by government regulations and incentives, as well as technological factors. Large companies have an advantage in their ability to secure the financing necessary to build solar power.
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