Despite setbacks, U.S. wind and solar energy industries are expected to thrive
Although the current low price of natural gas threatens the economic rationale for renewable energy, a new report from the Solar Energy Industries Association (SEIA) and GTM Research says that the price of solar panels plummeted by more than 50% in 2010, and estimates that solar power will account for 10% of U.S. electricity by 2020, up from 1% currently. Meanwhile, American Wind Energy Association announced that wind power increased 31% last year, USA Today reports. As government subsidy programs for renewable energy expire, both the wind and solar industries will face "considerable consolidation," the article said. For more, read the USA Today article here or view the SEIA's "U.S. Solar Market Insight Report Year-in-Review 2011 Summary" here.