1,306 MW of solar PV was installed in the USA during the first quarter of this year, the sixth consecutive quarter where the 1GW mark was exceeded.
According to GTM Research and the Solar Energy Industries Association’s (SEIA) Q1 U.S. Solar Market Insight Report, residential solar was a standout performer; growing 76% compared to the first quarter of last year at 437 megawatts.
66,440 solar power systems were commissioned in Q1 2015. All told, there were close to 700,000 systems across the USA by the end of March.
“Q1 2015 provided a clear glimpse into the future role that the residential sector will play as a primary driver of not only solar market growth, but the overall electricity generation mix.” Said Shayle Kann, Senior Vice President at GTM Research.
Mr. Kann said GTM expects more than three million residential solar installations over the next five years.
Home solar panels are still expensive in the USA compared to Australia, but prices are rapidly dropping. The average cost for a residential solar system in the U.S. is now 10 percent lower than this time last year.
The non-residential market installed 225 MW in the first quarter and the utility segment installed 644 MW; the latter representing 49 percent of new PV capacity brought on-line during Q1.
While Australia still has a massive lead on the USA in terms of residential solar installation, it’s not even in the game when it comes to utility scale. The USA now has more than 500 large-scale solar farms – Australia has just a handful.
GTM Research and SEIA forecast 7.9 GW of solar capacity in 2015, up 27 percent over 2014. The report notes 25 project developers, (including the world’s largest renewable energy developer, SunEdison), with pipelines in development of 100 MW or greater.
“Solar continues to be the fastest-growing source of renewable energy in the United States,” said Rhone Resch, SEIA president and CEO. “By 2016, the U.S. will be generating enough clean solar energy to power 8 million homes.”
More solar than natural gas power generation came online during the first quarter and solar made up over half of all new electricity generation assets commissioned.
More of the Q1 U.S. Solar Market Insight Report can be viewed here
