There is an unstoppable revolution in America. Photovoltaics, grows like a rocket. The latest report by the Solar Energy Industries Association SEIA and GTM Research claims that this year 2015 is shaping up as the best ever for the sector, with 1,361 MW installed in the third quarter and an even better outlook for the fourth quarter.
The 1,361 megawatts of solar PV energy installed in the third quarter alone mark an increasingly vertical trend in the sector´s growth in the US. In fact, it is the eighth consecutive quarter in which more than one gigawatt (GW) of PV capacity has been installed.
“The third quarter was the turning point announcing the calm before the storm,” said Cory Honeyman, an analyst at GTM Research Superior Solar. “The mark of 1GW of additional capacity has served as a stepping stone that will allow future projects use it as a ramp for the installations for the next five quarters before aid of 30% Federal Investment Tax Credit (ITC) are gone. “
GTM Research expects the fourth quarter to reach the largest number of solar installations in the US history. Led by the segment of “utilities”, United States will install more than 3 GW over these last three months of the year. And that means that in the medium / long term, photovoltaic installations will almost double by the end of 2016, bringing the national total to 41 GW.
Large photovoltaic plants
Although the residential market is important, the report says that large solar parks are leading the market in the country by a little difference. So far, accounting for 42% of the national total, while residential installations represent 41%. However, this segment is rocketing reaching a new quarterly record, as it has grown by 69% so far this year.
Despite some inconsistencies in the non-residential market, the report notes this segment also advanced, rising by 4% year on year and 19% during the last quarter.
GTM Research predicts that the market for solar photovoltaics in the United States as a whole grew 19% in 2014 but will reach 7.4 GW by the end of this year 2015.
“Year after year, we are seeing demand for solar energy soaring in the United States, and the benefits this brings to the economy, both our nation and the environment, are staggering,” added Rhone Resch, president and CEO SEIA. “We are prepared for this year to be a record year for our industry and for the nation, because this report reveals that the important thing is to maintain smart and effective policies both public as the ITC on the future.”
Main findings of the report:
– 1,361 MW of photovoltaic solar energy were installed in the third quarter of 2015 In the US, marking the eighth consecutive quarter over which more than 1 GW of photovoltaic systems were added.
– During the first three quarters of 2015, 30% of all new electricity generating capacity for the system came from the sun.
– From the third quarter of this year, over 50% of all States in the US have more than 50MW of cumulative installed solar PV.
– With a total of 18,7GW, the “utilities” were the leading responsible of the increased capacity in PV systems in the US connected to the grid by the end of 2014.
– GTM Research predicts that 7,4GW of new photovoltaic installations will be added to the electrical system in 2015, up 19% from 2014. The growth will occur in residential and utility PV segments, while for the second consecutive year, non-residential solar power will drop to 5%.