HVAC Breaking News

April 1, 2013: U.S. Solar Market Grows 76 Percent in 2012

WASHINGTON and BOSTON — GTM Research and the Solar Energy Industries Association® (SEIA®) have released their annual report, U.S. Solar Market Insight: Year-in-Review 2012, which indicates that solar photovoltaic (PV) installations in the United States last year grew 76 percent over 2011, totaling 3,313 megawatts (MW) in 2012, with a market value of $11.5 billion.

Solar is the fastest growing energy source in the U.S., according to the report, powering homes, businesses, and utility grids across the nation.

At the state level, California became the first state to install over 1,000 MW in one year, with growth across all market segments. Arizona came in as the second largest market, led by large-scale utility installations, while New Jersey experienced growth in the state’s nonresidential market. The top 10 largest state solar markets by MW of solar PV installed during 2012 were:

1. California — 1,033

2. Arizona — 710

3. New Jersey — 415

4. Nevada — 198

5. North Carolina — 132

6. Massachusetts — 129

7. Hawaii — 109

8. Maryland — 74

9. Texas — 64

10. New York — 60

In addition to record annual installations, the fourth quarter of 2012 shattered all-time quarterly records as well, with 1,300 MW of installed PV, besting the previous high by 64 percent. The residential and utility segments had their best quarters ever, installing 144 MW and 874 MW respectively.

For more information, visit www.seia.org/research-resources/us-solar-market-insight.

Publication date: 4/1/2013

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