BOSTON and WASHINGTON — Driven by strong year-over-year growth in the utility and residential markets, the United States installed 1,330 megawatts of solar photovoltaics (PV) in the first quarter of 2014. According to GTM Research and the Solar Energy Industries Association’s (SEIA) Q1 2014 U.S. Solar Market Insight Report, the U.S. installed 232 megawatts of residential PV, exceeding the commercial market’s 225 megawatts for the first time in the history of the report.
Ongoing strength in the residential sector and volatility in the commercial market spurred this milestone. Despite the dip in nonresidential installations, GTM Research and SEIA expect the market to rebound and exceed the residential market in 2014 annual PV installations.
“Solar accounted for 74 percent of all new U.S. electric capacity installed in Q1 2014, further signaling the rapidly increasing role that solar is playing in the energy market,” said Shayle Kann, senior vice president at GTM Research. “Expect to see a resurgence in the nonresidential market, combined with continued incremental residential growth, throughout the rest of this year.”
The utility PV market continued its dominance, growing 171 percent between Q1 2013 and Q1 2014. With 873 megawatts installed, it accounted for two-thirds of total installations during the quarter. Large-scale projects that were under contracts and negotiations between 2010 and 2012 are now becoming a reality.
The United States’ solar market is off to a strong start in 2014. GTM Research and SEIA forecast 6.6 gigawatts of PV will be installed in the U.S. by the end of the year, up 39 percent over 2013.
“Solar energy is now generating enough clean, reliable and affordable electricity to effectively power 3 million American homes, while creating thousands of new jobs nationwide and pumping nearly $15 billion a year into the U.S. economy,” said Rhone Resch, SEIA president and CEO. “Solar is also providing a big boost for our environment. The 14,800 megawatts of solar currently installed in the U.S. can generate enough pollution-free electricity to displace 18 billion pounds of coal or 1.8 billion gallons of gasoline. That’s the equivalent of removing 3.5 million passenger cars off our roads and highways. For states trying to meet new, enhanced air quality standards, solar can be a real game changer.”
For more information, visit www.seia.org/smi.
Publication date: 6/16/2014