New York State strives to make solar the future

5 May 2009

Vincent Cozzolino

However, while Silicon Valley spawned an IT boom in the 1990s, is the same looking to happen with solar power? According to a recent study, total solar capacity in the US experienced record growth, soaring to 1,265MW in 2008, and set to do the same in 2009.

Vincent Cozzolino, CEO of The Solar Energy Consortium (TSEC), an industry-led, not-for-profit organisation supporting the state’s solar industry, is convinced the industry is in line for continued growth.

Although not famed for its year-round sunshine, Cozzolino says the US state of New York is a hub of activity due to the booming semiconductor industry and is a clear reflection of the movement across the US.

Cozzolino said, ‘Our focus is specifically New York State and it just so happens that this area contains a significant number of leaders in the semiconductor industry who possess skills that are easily transferred into the solar business.’

According to Cozzolino, while there seems to be no shortage of interest in the solar industry, the real focus is on the implementation of new regulation to help support its growth. Although 2008 saw some of the biggest changes in solar policy, the highlight being the extension of the 30 per cent solar investment tax credit in October 2008, he believes big changes are still waiting to happen.

‘The US is such a broad space, with essentially 50 different countries brought together; this undoubtedly effects regulation and its implementation. However, President Obama is set to change our cause. He has pledged a great deal of money for research and development for the renewable energy industry which will inspire a lot of innovation to rise up. I believe Obama will be the catalyst we need to propel this market forward,’ Cozzolino continued.

Although he admits that permitting, planning and installing solar projects is currently taking longer than they would hope as a result of the economic downturn, Cozzolino sees the solar movement as in its very early stages.

‘We work with about 75 companies who are creating solar-related products within the New York area. The downturn in the economy has definitely affected them because of their inability to receive funding in order to sustain their development. That said, we have not lost any of them and they all continue to show signs of growth, albeit slower than we had hoped. We are, however, poised for when the economy turns around. There is also a real opportunity for private investment in this space, and we are seeing something of a rise at the moment.’

Cozzolino refutes any claims that the solar industry is a fad and is a staunch believer that once it has overcome legislative hurdles and a lack of understanding, it will progress to the mainstream. ‘I think that solar will prosper going forward and will be a key contributor to the way we generate energy in the US. Yes, we are lacking the same kind of support which exists within Europe, such as feed-in tariffs or attractive subsidies but we are on the road to receiving better government support.

‘The state of New York will soon release its renewable energy targets and I am of the mind that the federal government will follow suit. At the moment we have visions and milestones and it is only a matter of time before hard and fast targets are introduced,’ he added.

Cozzolino also believes that solar power will continue to pose an attractive option to private investors.

‘Private investment is crucial and although we are seeing a great deal of it, we could always use more! I do not believe we will face grave troubles as a result of a lack of funding. There is simply so much attention and focus placed upon renewables now that if there are any investments to be made, people are inclined to do so in this area.’

Cozzolino remains extremely optimistic for solar power’s future; ‘I think the next ten years is our time. That is the period where we will see significant growth from solar manufacturing to a mass roll-out of solar power plants. By the end of the next ten years, I believe we will see solar fully integrated with our energy needs.’

Copyright © 2009 newnet

Tags: solar

This story was published on Tuesday, May 5th, 2009 at 5:39 pm and is filed under Features. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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