WASHINGTON, D.C. AND BOSTON, MA (PRWEB) September 13, 2013
GTM Research and the Solar Energy Industries Association® (SEIA®) today release U.S. Solar Market Insight: 2nd Quarter 2013, the definitive analysis of solar power markets in the U.S., with strategic state-specific data for 28 U.S. states and the District of Columbia.
Showing continued growth in the solar market, this quarter’s report finds that the U.S. installed 832 megawatts (MW) in Q2 2013, representing 15 percent growth over the first quarter of this year. It was solar’s second best quarter ever.
The largest share of photovoltaic (PV) installations came from the utility sector, with 38 completed projects totaling 452 MW, a jump of 42 percent over last quarter. The residential market experienced a slight hiccup in Q2 2013, breaking its streak of incremental quarterly growth with a flat quarter, and in the non-residential (commercial) market, only 13 out of the 28 states tracked in the report showed quarterly growth. However, the report forecasts a resumption of growth in the second half of 2013, with 4.4 GW of PV expected to come online this year, up from 3.3 GW in 2012, an overall annual growth rate of thirty percent.
As always, the solar market experienced significant variability across states in Q2 2013. California installations increased 7 percent over Q1 2013 despite the end of incentives in some states – an indicator of solar’s increasing competitiveness. Overall, 20 of the 28 states tracked in the report are on pace to increase their annual installation of solar energy over 2012.
“Distributed generation is the big story in the U.S. solar market this year,” said Shayle Kann, Vice President of Research at GTM. “We expect significant growth, especially in the residential sector, but the future will be dictated by the increasingly-complex nexus between the solar industry and utilities.”
Looking at the U.S. solar market on the whole, U.S. Solar Market Insight: 2nd Quarter 2013 forecasts over 5 gigawatts (GW) of PV and concentrating solar power (CSP) will be installed by the end of 2013. At that time, cumulative solar PV capacity will surpass 10 GW.
“America’s solar energy industry remains on course to have another record-shattering year,” said SEIA President and CEO Rhone Resch. "Today, there’s more than 9,370 megawatts (MW) of total solar electric capacity across the U.S. – enough to power more than 1.5 million American homes, including the White House. We’re helping to create new jobs, grow the U.S. economy, strengthen our nation’s long-term energy security and fight climate change. That’s a win-win in anyone’s book.”
Key Report Findings
About U.S. Solar Market Insight®:
U.S. Solar Market Insight® is a quarterly publication of the Solar Energy Industries Association (SEIA)® and GTM Research. Each quarter, we survey nearly 200 installers, manufacturers, utilities, and state agencies to collect granular data on photovoltaic (PV) and concentrating solar. These data provide the backbone of the U.S. Solar Market Insight® report, in which we identify and analyze trends in U.S. solar demand, manufacturing, and pricing by state and market segment. We also use this analysis to look forward and forecast demand over the next five years. As the U.S. solar market expands, we hope that U.S. Solar Market Insight® will provide an invaluable decision making tool for installers, suppliers, investors, policymakers and advocates alike.
About GTM Research:
GTM Research, a division of Greentech Media, provides critical and timely market analysis in the form of research reports, data services, advisory services and strategic consulting. GTM Research's analysis also underpins Greentech Media's webinars and live events. Our coverage spans the green energy industry including solar power, smart grid, energy storage, energy efficiency and wind power sectors. http://www.gtmresearch.com
Established in 1974, the Solar Energy Industries Association® is the national trade association of the U.S. solar energy industry. Through advocacy and education, SEIA and its 1,000 member companies are building a strong solar industry to power America. As the voice of the industry, SEIA works to make solar a mainstream and significant energy source by expanding markets, removing market barriers, strengthening the industry and educating the public on the benefits of solar energy. http://www.seia.org
Mike Munsell, GTM Research, Marketing Manager, munsell(at)gtmresearch(dot)com
Shayle Kann, GTM Research, Vice President: 617.500.4216, kann(at)gtmresearch(dot)com
Ken Johnson, SEIA, Vice President - Communications, kjohnson(at)seia(dot)org