Info
Info
News Article

U.S. Solar Market On Track For A Record-Breaking Year

In the first quarter of 2016, 1,665 MW of solar PV were installed in the United States with the solar industry adding more new capacity during this period than coal, natural gas and nuclear combined. According to GTM Research and the Solar Energy Industries Association's (SEIA) U.S. Solar Market Insight, Q2 2016, the 1,665 MW accounted for 64 percent of all new electric generating capacity brought on-line in the first quarter of the year.

This growth builds off the momentum of a record 2015, in which solar exceeded natural gas capacity additions on an annual basis for the first time ever. The report also says that this year the solar industry will install an unprecedented 14.5 GW of capacity, a 94 percent jump over the 7.5 GW in capacity installed in 2015. This growth cements solar energy's role as a mainstay in America's portfolio of electricity sources.

FIGURE: Share of New U.S. Electric Generating Capacity Additions

 

Source: GTM Research / SEIA U.S. Solar Market Insight, Q2 2016

The first quarter of 2016 marks the 10th consecutive quarter in which more than a GW of PV was installed in the United States, and the 12th consecutive quarter in which 500 MW or more of utility-scale PV was installed. 

In turn, there are now more than a million operating solar PV installations across the country, representing 27.5 cumulative GW of operating capacity.

"While it took us 40 years to hit 1 million U.S. solar installations, we're expected to hit 2 million within the next two years," said Tom Kimbis, SEIA's interim president. "The solar industry is growing at warp speed, driven by the fact that solar is one of the lowest cost options for electricity and it's being embraced by people who both care about the environment and want access to affordable and reliable electricity."

Utility PV is expected to drive the majority of demand, accounting for nearly three-fourths of new capacity. More than 10 GWdc of utility PV is slated to come on-line this year. At least another 4.5 GWdc of utility PV installations are expected to be nearly or fully finished with construction in Q4 2016 and official commercial operation expected in 2017. 

The non-residential solar market experienced some much needed consistency this past quarter. The report notes that for the first time ever, the non-residential market experienced back-to-back quarters with installations of 300 MW or more.

"Over the past six months, the non-residential PV segment has shown glimpses of a market that can grow across a more diverse set of project development opportunities," said Cory Honeyman, GTM Research's associate director of U.S. Solar. "While a number of policy- and customer-driven bottlenecks continue to challenge the market, a handful of state policies established over the past half year should unlock new customer-sited and offsite development, with Fortune 500 corporate customers playing a key role in supporting the market's rebound."

Despite some net metering reform hurdles, the residential market segment continued its track record of quarterly growth, although at a much slower clip due to a typical seasonal dip during the late winter months. While California remained relatively flat, other markets picked up the slack. GTM Research points to New York and Maryland which both experienced quarterly residential growth rates of 25 percent.

FIGURE: U.S. PV Installations, Q1 2010 "“ Q1 2016

 

Source: GTM Research / SEIA U.S. Solar Market Insight, Q2 2016

With the recent extension of the federal Investment Tax Credit, a number of large-scale projects have breathing room to spill over into 2017. That spillover effect, plus a growing number of geographies where distributed and utility PV are attractive with an ITC extension, position U.S. solar to remain a double-digit GW annual market through the end of this decade.

Solar Arrays To Be Installed For General Dynamics Ordnance And Tactical Systems
REC Group Wins Prestigious Intersolar Award 2020 For Its Powerful Alpha Solar Panels
Energeo Boosts Council’s Climate Emergency Plans
PI Berlin Introduces Deep Dive Quality Assessment For Lithium-ion Battery Production
Vapour Fix Raises Perovskite Crystal Performance
Eversheds Sutherland Advises On Europe’s Largest Floating Solar Project
Solar Generates Savings On Your Electricity Bill − Irrespective Of The COVID-19 Crisis
Princeton Chemists Discover More About Perovskite Instability
REC Group Rejects Decision By The Düsseldorf Regional Court On Alleged Patent Infringement Regarding TwinPeak Solar Cells
Ingeteam The First Central Inverter Manufacturer To Be Certified To NTS UE 2016-631
Progress In Functional Roof Design: Photovoltaic In-roof System Combination
EnergyHub Partners With Vivint Solar To Expand Availability Of Residential Batteries As Utility Resources
US International Trade Commission Issues Final Determination Confirming No Infringement Of Hanwha Q-Cells Patent By REC Group
BYD Launches Battery-Box Premium LVS With Unparalleled Ease Of Use And Versatility For On- And Off-grid Installations
Meyer Burger Technology Ltd Aims To Transform Itself
Midsummer Solar Panels Are Ten Times Better For The Environment
Alectris Partners With Resco For All-in-one Mobile Solar O&M Tracking
Tesvolt Wins Leading Innovation Prize For SMEs
Van Der Valk Solar Systems And Eyecatcher BV Are Joining Hands!
RES And SNCF Energie Sign A CPPA For Nearly 40 Megawatts Of Renewable Energy In France
Record Efficiency For Printed Perovskite Solar Cells
Electrons In The Fast Lane
Researchers Make Fuel From Cubic SiC, Graphene And CO2
REC Group Goes Virtual, Bringing Premium Solar Products

Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification}