Caption: U.S. PV Installations, Q1 2010-Q1 2015
The U.S. residential solar market grew 76 percent over year-over-year during the first quarter of 2015 — installing 437-MW of photovoltaics (PV) — according to a recent report by GTM Research and the Solar Energy Industries Association (SEIA).
The Q1 U.S. Solar Market Insight Report finds the nation installed a total of 1.3GW of PV across all market segments. Additionally, the residential market grew 11 percent over last quarter, while the non-residential market installed 225-MW in the first quarter of 2015. The utility segment installed 644-MW — a 49 percent increase — of new PV capacity brought online in Q1 2015. Utility PV installations have surpassed 500-MW for eight consecutive quarters.
“Q1 2015 provided a clear glimpse into the future role that the residential sector will play as a primary driver of not only solar market growth, but the overall electricity generation mix,” said Shayle Kann, senior vice president at GTM Research. “In the first quarter of this year, the U.S. installed more residential solar than natural gas, and solar on the whole accounted for 51 percent of all new electric generating brought online. We expect more than three million residential solar installations over the next five years, marked by a broader trend toward customer engagement in energy usage, generation and management.”
Currently, there are 25 project developers with pipelines in development of 100-MW or more. GTM Research forecasts that PV installations will reach 7.9 GW in 2015, up 27 percent over 2014.
To read the report, click here.
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