Solar Shines Bright In Dark Economy

MarketWatch:

Industry Experts Predict 40% Growth For Solar Installations In 2009.

Industry experts are predicting a 40 percent increase in demand for residential and commercial solar installations in 2009. The boom is due mainly to increased government tax incentives and subsidies for renewable resources.

As of January 1, 2009 all Americans will be eligible for a 30 percent federal tax credit on solar technology. That’s in addition to individual state tax credits, which are as high as 25 percent in regions that are pushing for a greener economy.

“I am proposing we set the most aggressive target in the nation for 33 percent renewable energy by the year 2020,” California Governor Arnold Schwarzenegger announced this week. “That’s a third of our energy from sources like solar, wind and geothermal.”

With a global economic crisis lingering, venture capitalists are now pouring billions of dollars into the renewable resource sector, stimulating a shift in North America’s labor markets. Roofers, electricians, and contractors in slowing industries are now turning to the alternative resource sector for professional labor jobs like solar installation.

Solar Universe, a solar installation company that started franchising in August has already awarded four franchises in California and plans to award five more before going nationwide in 2009. The majority of Solar Universe’s franchise partners are construction professionals looking to capitalize on the installation of solar technology.

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