Solar Jobs Strengthening the Economy According to Syndicated Solar

Wed Aug 10, 2011 8:47pm EDT

* Reuters is not responsible for the content in this press release.

  DENVER, CO, Aug 10 (MARKET WIRE) -- 
There are job creation success stories when looking at the economy -- and
2010 was a successful year for solar energy in the United States. In
contrast to 2.8% GDP growth in the U.S. economy, the solar market grew
67% in value to $6.0 billion in 2010.

    In general, U.S. solar companies are adding jobs at a pace that is much
faster than the general economy, and employers are highly optimistic
regarding their overall revenue growth. In a study titled the National
Solar Jobs Census 2010 released by The Solar Foundation, data showed that
as of August 2010, the US solar industry employed an estimated 93,500
solar workers (which is roughly double the number of solar workers
estimated in 2009). 

    The study also projects that over 50% of solar firms expected to continue
adding jobs during 2011 -- making the anticipated job growth rate in the
solar industry to be about 26% (representing about 24,000 net new jobs).
This expected 12-month growth rate is significantly higher than the U.S.
economy-wide expectation of 2% growth over the same period. 

    What is causing the solar industry to generate more jobs? Hilda L. Solis,
US Secretary of Labor, said, "Among other things, this study shows that
investments made through the Recovery Act -- including the $2.3 billion
in tax credits to U.S. based clean energy manufacturing -- are already
generating positive results. The solar energy sector is an increasingly
important source of good jobs for Americans. Fostering the growth of this
emerging industry will help protect our environment, ensure the U.S.
remains competitive in the global economy, and offer great opportunities
for the nation's working families." 

    There doesn't appear to be any other industry that is growing faster. "I
am thrilled to announce that the solar energy industry is now the fastest
growing industry in America," stated Solar Energy Industries Association
(SEIA) CEO Rhone Resch at a recent PV America Conference. But the good
news doesn't stop there. Statistics show that for every job created by
the solar PV industry, between 1.8 and 2.8 jobs are created in other
segments of the economy.

    Additionally, one of the only bright spots in the US manufacturing
industry has been the increase in solar-related jobs. In fact, Colorado
is one of the only states in the country to see an increase in
manufacturing jobs this year because renewable energy and solar
manufacturing plants have moved into the state.

    As a national, full-service solar developer, Syndicated Solar, also
creates many jobs and stimulates the economy in individual communities by
utilizing regional and local companies for many aspects of project
completion -- including physical installation. Over the past two years,
Syndicated Solar has directly hired 16 new employees and contracted with
companies or vendors who have hired approximately 18 additional
employees. When reviewing solar contracts for 2011-12, Syndicated Solar
expects that approximately 30 jobs will be created from its nationwide
solar installation projects. 

    Despite being in the middle of a historic economic downturn, these
findings clearly illustrate that providing homes and businesses with
clean and renewable solar energy is a strong and growing industry that is
responsible for thousands of jobs in all 50 states in the US. 

    About Syndicated Solar
 Syndicated Solar is a full-service solar
developer providing site evaluation, system design, financing,
permitting, grant/rebate administration, installation, operation, and
maintenance of solar systems for our clients. Since every project is
different, we carefully analyze each opportunity to determine the best
solar technology, design, installation method, and financing structure
for the project and the needs of our clients. 

    Syndicated Solar has partnerships with industry-leading suppliers,
installers and finance companies to allow us to provide turn-key
development services for all solar projects ranging from single
commercial sites to multi-megawatt solar farms serving communities. 


Betty Lundgren

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