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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.
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.
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