Energy

Demand for Solar Thermal Equipment Expected to Grow

The Solar Thermal Energy Equipment Manufacturing industry has surged during the five years to 2011. According to IBISWorld, the nation’s largest publisher of industry market research, revenue is expected to grow 35.1% per year to $185.3 million in the five-year period. Generous government incentives for solar thermal energy (STE) manufacturing and downstream solar power generation (the industry's customer) have buoyed revenue. Without government subsidies, solar power generation firms would have a hard time competing against traditional energy-generating sources. With incentives in place, downstream customers demand solar thermal equipment at an increasing pace. However, the recession caused industry revenue growth to slow down amid tightening credit conditions that hampered customer's ability to purchase STE equipment. Revenue is expected to bounce back as these government incentives continue to positively influence the industry. Industry revenue is anticipated to jump 19.9% from 2010 to 2011.

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