The U.S. solar industry continues to grow in its second quarter according to GTM Research and the Solar Energy Association (SEIA) report as discussed in a Solar Novus article (1). The report, US Solar Market Insight: 2nd Quarter 2013, provides the definitive analysis of solar power markets in the US.
With 832 megawatts (MW) installed in the US in Q2 2013, the industry saw a 15% growth from the first quarter. This number represents the second best quarter ever for solar power.
Here are the other key report findings according to the article:
- Cumulative operating PV capacity in the US now stands at 8,858MW
- 4,372MW of PV are forecasted to be installed in 2013, up from 3,366 MW in 2012, a 30% growth rate
- The utility market completed 38 projects totaling 452MW; there are currently 3.9GW of utility-scale projects in construction
- The residential marker was flat quarter-over-quarter, breaking its streak of incremental quarterly growth
- The non-residential market was down in Q2, continuing a relatively light year for the segment
In an article by PV Magazine, Shayle Kann, Vice President at GTM Research, is quoted saying, “The Market is continuing to grow, there’s no questions there. The growth is certainly more incremental than it used to be. We’re used to seeing the market doubling – we’re past the point where that is happening.”
As the solar industry continues to grow, its technology continues to evolve providing our environment with a more promising future. It’s exciting to consider the possibilities of where solar will take us in the future.
(1) “US Solar Experiences Best Quarter Ever.” Solar Novus Web. 13 Sept. 2013. <http://www.solarnovus.com/us-solar-experiences-best-quarter-ever_N6980.html?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+SolarNovus+%28Solar+Novus+Today+-+Delivering+today%27s+solar+technology+news%2C+today%29>.
(2) “U.S. solar industry expands 15% in second quarter, but growth leveling off: pv-magazine.” Home: pv-magazine. N.p., n.d. Web. 13 Sept. 2013. <http://www.pv-magazine.com/news/details/beitrag/us-solar-industry-expands-15-in-second-quarter–but-growth-leveling-off_100012717/#axzz2emMYWnkl>.