U.S. Solar Industry Was Net Global Exporter by $1.9B in 2010
Solar establishes its role in the next frontier for the US economy SEIA® and GTM Research’s U.S. Solar Energy Trade Assessment 2011 found that last year, U.S. solar firms achieved a positive trade flow of $1.9 billion globally.
“The U.S. solar energy market continues to be a bright spot in an otherwise bleak economy,” said Rhone Resch, president and CEO of SEIA®.
“As the global solar industry continues to grow and evolve, the U.S. is seen more and more as a leading market – both in installations and in exports. Solar is a showcase industry of U.S. ingenuity. In 2010, we grew by over 100 percent, we achieved a significant positive trade balance, and we exported more goods and services to China than we imported…Solar energy is an industry invented in the U.S. that is helping our country reclaim our manufacturing leadership and creating tens of thousands of jobs.”
By the numbers….
- 2010 U.S. solar energy installations created a combined $6.0 billion in direct value, of which $4.4 billion (75%) accrued to the U.S.
- For every dollar spent on a U.S. solar installation in 2010, $0.75 accrued to the U.S.
- The U.S. is a net exporter to China by more than $240 million.
- 82% ($3.6 billion) of the domestic value created by solar in the U.S. came from the PV sector
- 9% ($419 million) came from the concentrating solar sector
- 9% ($400 million) came from the solar heating and cooling sector