Solar Power technologies can make an extensive contribution to the energy mix of the country, and reduce its dependency on fossil fuels. The present research service analyzed the North American Non Residential solar power market along with revenues and installed capacity forecasts. Supported by identifying the drivers and restraints, as well as challenges, facing this market.
The North American region is abundant with diverse renewable energy resources that can significantly contribute to the global energy mix. Ongoing support and commitment from the federal and various state governments through renewable energy policies and programs are likely to sustain growth momentum in the market. In North America, solar is the second fastest growing renewable energy market, next to wind power. The United States is the dominant market for solar installations, but use of solar in Canada for non-residential applications recently started to show high growth-rates.
With growing political support for renewable energy and the pledge for energy independence, the United States, having utilized only a fraction of its immense solar potential, has all the ingredients to foster a strong and well-diversified solar market.
Concentrating Solar Power installations are also expected to show high growth rates during the forecast period. The technology with the largest installed base is trough technology. More installations of concentrated solar energy plants are expected in the next decade, as new contracts to build over 10,500MW of concentrating solar power in the South-western states have been announced.
The use of concentrated solar energy technologies can only be justified in places where the highest efficiencies can be reached, thus there are no Concentrating Solar Power installations in Canada, limiting the installation of concentrated solar energy plants to the Southwest United States. However, the PV market for non-residential applications in Canada has been increasing during the last three years