ELKRIDGE, USA: Recent economic uncertainty has done little to quell the growth of solar energy, according to Maryland-based Solar Energy World, the region's leading installer of commercial and residential solar power systems and solar hot water systems. The company rode the rising tide of the solar energy industry, more than doubling the size of its revenues over last year and adding more than 40 jobs to the local economy.
"More and more consumers are recognizing that solar panel systems can put money directly into their pockets," says CEO Tope Lala. "We are excited to show the residents and businesses of Maryland and the mid-Atlantic the many benefits, and affordability, of solar energy."
Solar Energy World has installed more than 300 solar electric and solar hot water systems in 2011, more than double what was installed in 2010. Going into 2012, the company is seeking to double that figure again.
While official statistics for the solar energy industry are not yet compiled for 2011, initial reports from 1Q and 2Q 11 are more than positive. The Solar Energy Industries Association (SEIA) reports that the solar industry is the fastest-growing industry in America and in 2Q 11, the U.S. solar photovoltaic (PV) market installed 314 MW, 69 percent more than the same period last year and 17 percent more than 1Q 11.
Consumers have benefited from advancements in solar energy technology, specifically with photovoltaic cells. Improvement to photovoltaic cells, the primary tool for converting solar into usable energy, have increased in efficiency and lowered the cost, making solar energy systems more attractive and affordable to the average homeowner.