Solar Panel demand can’t keep up with supply
Many solar panel manufacturers and installers can’t keep up with the demand for solar panels and are not taking on anymore jobs in 2008 because they don’t either have the time nor supply to help anyone the rest of this year! This is due to the US federal tax credit expiring December 31s, 2008, people want to get their projects installed by the end of this year so they can pick up on that tax credit and is causing a strain on the supply of solar panels, this holds true especially for large business projects. Industry reports suggest as more manufacturing capacity is put online in 2009 solar panel demand will catch up with supply.
There maybe a downturn in the solar and wind market next year if the renewable energy tax credit is not renewed by congress by the end of this year. Although electric rates are jumping up to historic highs, so hopefully we can get solar and wind technology to compete financially against the fossil fuel industry without rebates and tax credits. What do you think will happen next year to this booming industry if the tax credit is not renewed?