Maryland solar market heats up

Solar power has for years been a “hot” industry. It may be heating up even more.

More than twice as many homeowners and office building landlords in Maryland are installing solar panels than were doing so a year ago, according to paperwork filed with state energy regulators. And anecdotally, solar panel technology companies and installers say their business is indeed booming.

While the federal and state governments have offered financial incentives to go solar for years, the industry is starting to grow even more quickly as prices fall and perceptions change. Leaders of major players in the energy industry have said recently they expect solar power to soon be just as cheap as fossil-fueled power. Solar panel technology itself has also become about half as expensive as it was a few years ago.

The extra attention is helping solar companies shift from a business that has depended heavily on government subsidies to one that is profitable on its own.

Read more in the Washington Business Journal.