U.S. Solar Energy Industry Breaks Records

Solar Report Figure1.1_0GTM Research and the Solar Energy Industries Association (SEIA) have released the “U.S. Solar Market Insight: 3rd Quarter 2013,” the definitive analysis of solar power markets in the U.S., with strategic state-specific data for 28 U.S. states and the District of Columbia.

According to the report, the U.S. installed 930 megawatts (MW) of photovoltaics (PV) in Q3 2013 is up 20 percent over Q2 2013 and 35 percent over Q3 2012. This represents the second largest quarter in the history of the U.S. solar market and the largest quarter ever for residential PV installations. The report finds that even more importantly, 2013 is likely to be the first time in more than 15 years that the U.S. installs more solar capacity than world leader Germany, according to GTM Research forecasts.

“Without a doubt, 2013 will go down as a record-shattering year for the U.S. solar industry,” said Rhone Resch, SEIA president and CEO. “We’ve now joined Germany, China and Japan as worldwide leaders when it comes to the installation of new solar capacity. This unprecedented growth is helping to create thousands of American jobs, save money for U.S. consumers, and reduce pollution nationwide. When it comes to preparing for America’s future, clean, dependable and affordable solar energy has become the ‘Little Engine That Could,’ defying expectations and powering economic growth – and, frankly, we’re just scratching the surface of our industry’s enormous potential.”

Solar Report Figure2.1_4The report finds that the residential market continues its rapid growth. Through Q3, residential PV installations were up 45 percent year-over-year, driven largely by increasingly attractive economics and by fair net metering policies. The non-residential (commercial) market has seen the most difficulty this year with installations forecasted to stay flat over last year. The utility market continues its consistently strong installation numbers and is forecasted to exceed 1 gigawatt (GW) of installations in the fourth quarter, including Abengoa’s Solana, the world’s largest parabolic trough concentrating solar power (CSP) plant with a 6-hour thermal energy storage system. This will be the first time any individual market segment has hit that mark.

“Solar is the second-largest source of new electricity capacity in the U.S. this year, trailing only natural gas,” said Shayle Kann, vice president of research at GTM. “As solar continues its march toward ubiquity, the market will require continued innovation, efficiency improvement and regulatory clarity. But already the groundwork has been laid for a mainstream solar future.”

2 thoughts on “U.S. Solar Energy Industry Breaks Records

  1. Ah yes “Installed Capacity.” Which is a far, far cry from Capacity factor – it means the solar industry is milking the government and installing panels.

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