The second quarter of 2016 has been another big one for the USA’s solar industry, with 2,051 megawatts of solar panels installed – a 43 percent increase over Q2 2015.
Data from the latest GTM Research and SEIA U.S. Solar Market Insight report indicates the end of the period marked the twelfth consecutive quarter where more than a gigawatt of solar PV was installed.
While residential solar grew only slightly over Q1, the sector experienced a record quarter with 650 MW of solar power systems installed – 29 percent growth year over year. It may have taken the USA 40 years to reach 1 million installations (a total Australia reached in 2013), but it’s expected to hit 2 million within the next two years.
Non-residential PV (e.g. commercial solar) was up 5 percent over the first quarter and 50 percent year-over-year. The report states the sector was held back to a degree due to expiring rebates is some parts of the country and other issues.
Utility scale solar continued to shine during Q2, with more than a gigawatt capacity installed for the third consecutive quarter. More than 7.8 GW of additional projects are expected to be completed during this year.
“Solar works in all 50 states and this report proves that what many would consider non-traditional markets are now firmly a part of the clean energy movement,” said Tom Kimbis, SEIA’s interim president. “That record-breaking growth is made possible by solar’s cost-competitiveness and the vast benefits it provides consumers, our nation’s economy and environment.”
In addition to incentives such as the extension of Investment Tax Credits (ITC), the plummeting cost of solar panels, other components and installation is fuelling uptake – solar prices are 18 percent lower than they were in 2015 and 63 percent lower than 5 years ago according to the report.
GTM Research forecasts 13.9 GWdc of new PV installations will be up and running this year, a massive increase of 85 percent over 2015. Utility PV is expected to lead the pack, making up 70 percent of new capacity.
More facts and figures from the Solar Market Insight Report can be viewed here.
