For the U.S. solar industry, 2011 appeared bleak due to Chinese competition as many American manufacturers faced layoffs and even bankruptcy. Despite these setbacks, solar still had many successes as a result of system prices falling 20 percent, better financing options, and more efficient installations. Tax incentives helped recoup some building costs encouraging a rush of installations as well.

In addition, many financial institutions like Morgan Stanley and JCM Capital of Ontario, Canada have been investing funds to back many solar initiatives and have included solar energy in their funding plans.

• Morgan Stanley is backing a $300 million fund to finance installation of residential photovoltaic systems. In a recent announcement, Clean Power Finance, a San Francisco startup that offers software tools and financing to solar installers, along with MS Solar Solutions Corp, Zions Bancorporation and solar installer Main Street will create MySolar, a new lease program that will finance up to $300 million of rooftop solar arrays for homeowners in California and Arizona.
• JCM Capital  launched a $10 million solar development capital fund for investment in early-stage photovoltaic projects installed on large commercial and industrial buildings across Ontario, leveraging the Province’s Feed-in-Tariff (FIT) program. The fund’s goal is to target projects for submission during the upcoming Ontario Power Authority’s application window, assisting with early-stage development costs. The fund will also invest in Ontario-based FIT contracted projects that have not yet reached commercial operation.

The environmental benefits of renewable energies like solar power are many, but as the industry forges ahead, continued funding also helps the economy through job creation. As adoption continues at the commercial and residential levels and more funds become available, newer innovations and more efficient technologies are sure to help with attainable success.