Solar power has been on an upswing in the U.S., with usage now standing at six times’ its 2010 rate and the cost of solar installations since 2010 down 60 %. Analysts predict a 29% rise in solar installations in the U.S. by the end of 2014 alone.
This could be solar power’s moment. What’s uncertain is how much of that market growth the U.S. will be able to capitalize on. Currently, almost half of the world’s solar panel production takes place in China, while the U.S. only counts for only 5%.
Investors like Elon Musk, whose solar power company Solar City bought the panel maker Silevo to help drive down costs, hopes to change that imbalance by ramping up manufacturing in the U.S.