U.S. Solar Industry Market Increases 34% to $11.5 Billion in 2012

NEW YORK, NY -- (Marketwire) -- 03/28/13 -- The U.S. Solar Industry has experienced a resurgence over the past year as newly-imposed import tariffs on Chinese solar cells have helped companies compete with their Chinese competitors. According to the Solar Energy Industries Association the U.S. solar industry market increased to $11.5 billion, a year-over-year increase of 34 percent. Five Star Equities examines the outlook for companies in the Solar Industry and provides equity research on SolarCity Corp. (NASDAQ: SCTY) and MEMC Electronic Materials, Inc. (NYSE: WFR).

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In 2012, the U.S. installed a record 3,313 megawatts (MW) of solar photovoltaics (PV). At the end of 2012 the U.S. contained 7,221 MW of PV and 546 MW of concentrating solar power, which is enough to power approximately 1.2 million homes.

"There were 16 million solar panels installed in the U.S. last year -- more than 2 panels per second of the work day -- and every one of these panels was bolted down by a member of the U.S. workforce," said Rhone Resch, president and CEO of SEIA. "We've brought more new solar online in 2012 than in the three prior years combined."

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SolarCity is engaged in the design, installation and sale or lease of solar energy systems to residential and commercial customers. During 2012, the company increased its customer base by more than 243 percent and surpassed $1 billion in solar energy systems deployed. Shares of SolarCity have gained nearly 60 percent year-to-date.

With R&D and manufacturing facilities in the U.S., Europe, and Asia, MEMC enables the next generation of high performance semiconductor devices and solar cells. Through its SunEdison subsidiary, MEMC is also a developer of solar power projects and a worldwide leader in solar energy services. The company has forecasted sales of 10-38 solar energy systems during the first quarter of 2013.

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