United States solar market continues its growth, fuelled by residential PV installations, which advanced by 76% (437MW) in the first three months of 2015.
Solar Energy Industries Association/Green Tech Media (GTM) Research, who co-publish the US Solar Market Insight quarterly reports on the state of the industry, said overall installations were 1.3GW in Q1 2015. This was the sixth straight quarter where more than 1GW of new solar capacity was added.
This also accounted for 51% of new US electricity generation brought online, said senior vice president of GTM Research Shayle Kann.
Kann expects greater than 3 million home solar installations in the next five years, thanks to a more extensive movement towards customers engaging in energy creation, management, and use.
California (not surprising) lead the way in 2015 first quarter installations, followed by Nevada, New York, North Carolina, and Massachusetts. Texas, New Jersey, Arizona, New Mexico, and Maryland, round out the top ten in new capacity
Prices also fell this past quarter for home solar systems by 10% compared to 12 months earlier, at $3.48/watt. This is especially good news for consumers who are looking to take advantage of solar’s falling prices, with improved technologies.
The Northeastern U.S. experienced one of its worst winters ever recorded, but that didn’t prevent the residential solar market segment from having its best quarter of all time. The first quarter tends to be the slowest time of the year for the solar market due to weather, accounting and tax considerations. Despite these headwinds, the residential market still grew 11 percent over last quarter, its previous high-water mark.
What this recent report is solar is becoming the real deal. It’s a testament when despite pitiful weather conditions could have hurt new solar pv in Northern Atlantic states, places like New York, Massachusetts, New Jersey, and Maryland were in the top ten for new overall installations.
As SEIA president and CEO Rhone Resch said “Solar continues to be the fastest-growing source of renewable energy in the United States. By 2016, the U.S. will be generating enough clean solar energy to power 8 million homes.”
Resch added solar power can 8 million cars off the road, or 45 million metric tons of carbon dioxide.
If you want to go deeper into this report go to the SEIA website, where you can download the report.