Though Their Future Remains Unclear, Federal and State Tax Incentives Have Driven Growth
January 20, 2015
Since their introduction in 2006, solar tax credits have been extended through 2016 and caps on subsidies to residential customers have been removed. Despite economic challenges, these policies have underpinned moderate growth in solar water heater installations in the U.S. over the past five years, according to a report from IBISWorld.
In the next five years, revenue growth of the solar water heater installation market is forecast to strengthen on the back of rising corporate profit, booming housing starts, and technological advances that will make solar water heaters more economical, according to a report from industry research firm IBISWorld.