By Vivian Padilla | Cronkite News Service
After years of rapid growth, residential solar power installations in Arizona are likely to slow down some in the near future as prices tick up and utility incentives shrink, experts say.
For 2012, Arizona was the nation’s second-largest market for residential and commercial solar growth, adding 710 megawatts worth photovoltaic panels to rank behind only California, according to the Solar Energy Industries Association.
Consumers have benefited from oversupply as companies rushed into the market, but the recent collapse into bankruptcy of Suntech Power, a Chinese firm, is a symptom of the industry shaking out due to competition, said Stephen Goodnick, professor of electrical engineering at Arizona State University’s Ira A. Fulton School of Engineering.
That’s likely to lead to slight price increases for solar installations as the supply of components contracts, he said.
Suntech announced plans to close its manufacturing facility in Goodyear in April, citing global oversupply as well as U.S. import tariffs and higher production costs.
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If you’d like to discuss energy issues, contact Court Rich, Co-Chair of Rose Law Group’s Renewable Energy Department at crich@roselawgroup.com
