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Is solar power really going to provide new technology jobs?
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Unemployment is reaching record levels. There seems to be signs that the economy is recovering and the United States is waiting to see the job market turn around. From the Associated Press November 6, 2009 article entitled “What recovery? Unemployment shoots past 10 percent” “October was the 22nd straight month the U.S. economy has lost jobs, the longest on record dating back 70 years. Losses at factories, construction companies, retailers and financial services companies far outweighed gains in education and health care, professional and business services and elsewhere. Government payrolls were flat.” The manufacturing and construction labor force is looking for a market to apply their skills.
The solar industry has long been hailed as an emerging growth market. Analysts estimate almost unbounded growth for this market. “U.S. solar executives expect to see significant growth for their businesses in 2010 and 2011, according to results from the 2009 U.S. Solar Industry Monitor. … The majority of participants forecasted growth for their U.S. businesses in 2010 (92.6 percent) and 2011 (95.1 percent). Many expected to register a growth rate of more than 25 percent in 2010 (37.3 percent) and 2011 (55.0 percent).” environmental design + construction October 27, 20009 article entitled “U.S. Solar Business Poised for Strong Growth”.
The promise of solar power technology has been with us for decades. The efficiency and cost of solar cells is finally reaching the point of being competitive with conventional energy sources. "New Energy Finance analysis, based on the historic cost experience curve, suggests that current silicon-based solar module prices of $4/Watt could drop to $2.60/Watt by the end of 2009, a reduction of 35 percent." Dr. David Lee, CEO of BioSolar, Inc., December 31, 2008 broadcast of Grok`s Science Radio Show and Podcast. Yet, a search of U.S. solar job listings in the Solar Energy Industries Association web site yielded just over 1000 solar jobs available nationwide. A Monster.com search yielded 455 listings. Demand for solar power is high and the cost is getting lower creating conditions that would seem to be ideal for new solar power manufacturing and construction installation businesses.
But, there is still an obstacle to market entry that currently can’t be overcome. With the recession comes a very tight lending atmosphere that doesn’t seem to loosening up any time soon. “Once, as many as 18 big banks and financial institutions were willing to help finance installation of wind turbines and solar arrays, taking advantage of generous federal tax incentives. But with the banks in so much trouble, that number has dropped to four, according to Keith Martin, a tax and project finance specialist with the law firm Chadbourne & Parke.” New York Times, February 3, 2009 article entitled “Dark Days for Green Energy”.
There is a strong market for solar energy and the technology continues to advance efficiency and lower the cost of manufacturing. However, unless the industry can find more plentiful financial backing, this industry’s job growth is still waiting to happen.
