There’s a lot of buzz going around about the market growth of solar technology. Greentech Media writer, Stephen Lacey, discussed this phenomena in an article (1) he wrote back in August. In his article Lacey mentions that the U.S. is now installing one solar photovoltaic (PV) system every four minutes and that if market growth continues, it’ll be every minute and twenty seconds by 2016. “That’s a dramatic difference from 2006, when installers were only putting up one system every 80 minutes,” said Lacey.
Two-thirds of all distributed solar in the U.S. has been installed in the last 2 ½ years. Come 2016 distributed PV is expected to double. “That means the U.S. will hit 1 million cumulative residential solar installations by then — making the market in 2016 ten times larger than it was in 2010,” Lacey said.
Great news right? Well it gets better! Most projections for the solar market have been put together without considering the transportation industry. This means that as solar gains popularity in transportation, these numbers will increase rapidly.
“There are 25 million medium and heavy duty trucks in the United States,” said Jeff Flath, President and CEO of eNow, Inc., “Even if only 1% of that market puts our solar technology on their vehicle, that’s still 250,000 systems on the road.” Needless to say, the solar industry can expect to see a spike in the number of systems installed moving forward.
(1) “A Solar System Is Installed in the US Every 4 Minutes.” : Greentech Media. N.p., n.d. Web. 1 Nov. 2013. http://www.greentechmedia.com/articles/read/america-installs-a-solar-system-every-four-minutes?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+GTM_Solar+%28GTM+Solar%29.