The head of GroSolar, a large residential solar panel installation company, says that despite the economic recession, the solar industry is still growing and finding new customers. GroSolar saw $60 million in sales last year, exceeding its sales targets for January. The CEO notes that many people still have savings and equity in their homes and are looking at solar panels as a guaranteed return, especially as an alternative to losses in the stock market. He predicts continued growth for the industry as solar technology improves and financing options expand.

1. Who needs stocks when you’ve got solar panels |
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While everyone's talking about recession and job
cutbacks, the solar industry is growing and finding new customers, the head of a solar installation
company told Reuters.
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Jeffery Wolfe, founder and CEO of groSolar, said, "There's still a huge amount of people out there
that can well afford solar and haven't done it yet."
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GroSolar, the fourth largest residential solar panel installer in the United States, saw $60 million in
sales last year and Milk Thistle Extract exceeded its sales targets for January.
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Consumers can lease solar panels for their home or purchase a system upfront for around $20,000-
$25,000 after figuring in tax incentives.
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"While the economy is what it is, there are an awful lot of people out there who still have equity,
have good jobs, have savings, have investments that are working," Wolfe said.
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He maintained that people who are losing money in the stock market are beginning to look at solar
as returns on solar panels on a home are guaranteed.Â
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"We are 0.1 percent of the marketplace today so our marketplace is growing rapidly, and we've got a
lot of room to grow still -Â even in this current economy," Wolfe said.

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Wolfe noted that almost every state in the country has at least 30 percent more sun than Germany,
the world's leader in solar energy.
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Some homebuilders are even looking to solar to differentiate their developments from others while
the housing market remains in disarray. Wolfe
said he's seen developers market new solarized projects in hopes of attracting more interest and
buyers.
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Third party financing is just beginning to reach the solar market and will only add to the industry's
growth potential, according to Wolfe.
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He said after http://www.walgreens.com/store/c/milk-thistle/ID=361667-tier3 taking into account
redbates and tax credits, and amortizing the rest over 18 years, the cost is about what a consumer
would normally pay for power from the grid.
GroSolar isn't alone in its sector. Other solar companies are also seeing profits despite the economic

3. slump.
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Solar module maker First Solar saw its fourth quarter earnings and revenue more than double from
a year ago to $132.8 million and $433.7 million, respectively, thanks to growing demand for its solar
panels.
For more Reuters green business news, click here.
Photo credit: Reuters/Parth Sanyal (A solar housing complex in India); Reuters/Mike Blake (A home
under construction in California uses solar technology in its shingles)