So far this year, solar panels were up 13% despite the tariffs on imported PV panels. The prospectus for the remainder of the year remains upbeat. They predict that the growth for this year should be as good as 2017 and 2019 looks even better.
The tariff is stiff, starting at 30% and reducing 5% a year. They are set to expire in 2022. Offsetting the tariffs, there is still a 30% federal tax credit for solar developers.
The energy market is always in flux but today there is a strong push to move towards alternate energy sources. There are other choices like wind, hydro and geothermal but these other sources are not as consistent or as portable as solar.
Wind power’s drawbacks are the need for a tower to place a propeller and the wind is unpredictable. Since the generator is a mechanical part that is constantly in motion, one needs to allow for regular monitoring and maintenance of the equipment.
Hydro and geothermal’s drawback is that they can’t be set up at any location, both need to be situated by a energy source that they can draw power. For instance, a hydro electric power station needs to be located by moving water to harvest the energy of the flowing water and convert it to electricity.