US solar PV equipments market estimated to generate $347.90 million by 2013

DUBLIN, IRELAND: Research and Markets has announced the addition of GlobalData's new report "The Future of the US Solar PV Equipments Market" to its offering.

The US federal government has provided a funding of $3.1 billion to the states, as part of its economic stimulus package, to encourage photovoltaic (PV) installations and expand solar PV support programs. This is part of the country's plan to encourage the growth of renewables in the energy portfolio.

The government has also extended federal tax credits for solar PV. These support mechanisms combined are expected to open up high-growth markets for PV equipments such as inverters and modules. The PV inverter market in the US is therefore expected to generate an estimated $347.90 million by 2013, while the modules market is expected to generate $2,741 million by 2013.