GTM Research and the Solar Energy Industries Association® (SEIA®) today released U.S. Solar Market Insight Q3 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.
The U.S. installed 930 megawatts of photovoltaics (PV) in Q3, 2013, up 20 percent over Q2 2013 and 35 percent over Q3 2012. This represents the second-largest quarter in the history of the U.S. market and the largest quarter ever for residential PV installations. Even more importantly, 2013 is likely to be the first time in more than fifteen years that the U.S. installs more solar capacity than world leader Germany, according to GTM Research forecasts.
“Without a doubt, 2013 will go down as a record-shattering year for the U.S. solar industry,” said Rhone Resch, SEIA president and CEO. “We’ve now joined Germany, China and Japan as worldwide leaders when it comes to the installation of new solar capacity. This unprecedented growth is helping to create thousands of American jobs, save money for U.S. consumers, reduce pollution nationwide and lessen our dangerous dependence on often-unstable foreign energy supplies. When it comes to preparing for America’s future, clean, dependable and affordable solar energy has become ‘The Little Engine That Could,’ defying expectations and powering economic growth — and frankly, we’re just scratching the surface of our industry’s enormous potential.”
The residential market continues to see the most rapid growth of any segment in the U.S. PV market. Through Q3, residential PV installations were up 49 percent year-over-year, driven largely by progressive state renewable energy initiatives. The non-residential (commercial) market has seen the most difficulty this year with installations forecasted to stay flat over last year. The utility market continues its consistently strong installation numbers and is forecasted to exceed 1 gigawatt of installations next quarter, including Abengoa’s Solana, the world’s largest parabolic trough concentrating solar power (CSP) plant. This will be the first time any individual market segment has hit that mark.