The Solar Electric Power Association (SEPA) has released a new report, ‘Utility Procurement Study: Solar Electricity in the Utility Market’ – the first in a series of research reports to be released in 2009.
The report, which is aimed at improving large-scale solar acquisition by electric utilities, provides ideas for future project procurement. In 2008, over 5,000 MW of new photovoltaic and concentrating solar power projects were announced, and with the 8-year extension of the federal investment tax credit (ITC), the market is expected to grow significantly, SEPA says.
Along with the tax credit extension, the revised ITC also allows electric utilities to utilize the credit for the first time, by both owning and investing in solar projects, potentially creating a critical source of new projects and capital financing during the current economic downturn. In addition, the potential effect of the new administration's stimulus package with an emphasis on renewable energy is anticipated to be very dramatic as well.
The full report is available for download at www.solarelectricpower.org.
SOURCE: Solar Electric Power Association