Solar Jobs Strengthening the Economy According to Syndicated Solar
* 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 970-424-5254 Copyright 2011, Market Wire, All rights reserved. -0-