Driven by strong year-over-year growth in the utility and residential markets, the United States installed 1,330 MW of solar 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 MW of residential PV, exceeding the commercial market’s 225 MW for the first time in the history of the report.
Despite the dip in commercial installations, GTM Research and SEIA expect the market to rebound and exceed the residential market in 2014 annual PV installations.
Photo Source: U.S. Solar Market Insight, Q1 2014
In another significant development, Q1 2014 was the largest quarter ever for concentrated solar power (CSP) due to the completion of the 392 MW AC Ivanpah project and the Genesis Solar project’s second 125 MW AC phase. With a total of 857 MW expected to be completed by year’s end, 2014 is on pace to be the largest year for CSP in history.
“Solar accounted for 74% 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,” says Shayle Kann, senior vice president at GTM Research. “Expect to see a resurgence in the non-residential market, combined with continued incremental residential growth, throughout the rest of this year.”
The utility PV market continued its dominance, growing 171% between Q1 2013 and Q1 2014. With 873 MW 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 GW of PV will be installed in the U.S. by the end of the year, up 39% 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,” says Rhone Resch, SEIA president and CEO. “Solar is also providing a big boost for our environment. The 14,800 MW 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. For states trying to meet new, enhanced air quality standards, solar can be a real game changer.”
Photo Source: U.S. Solar Market Insight, Q1 2014
Summary of Key Findings:
- The U.S. installed 1,330 MW of solar PV in Q1 2014, up 79% over Q1 2013 and the second-largest quarter for solar installations in the history of the market
- Cumulative operating PV capacity stood at 13,395 MW DC with 482,000 individual systems online as of the end of Q1 2014.
- PV growth was driven primarily by the utility solar market, which installed over 800 MW in Q1 2014, up from 322 MW in Q1 2013
- Q1 2014 was the first quarter in which residential PV installations exceeded commercial installations nationally
- More than one third of residential PV installations came online without any state incentive for the first time ever in Q1 2014
- Q1 2014 saw school, government, and non-profit PV installations add more than 100 MW for the second straight quarter
- 74% of new electric generating capacity in the U.S. in Q1 2014 came from solar
- GTM Research and SEIA forecast that PV installations will reach 6.6 GW in 2014, up 39% over 2013 and nearly double the market size in 2012
- Cumulative operating CSP capacity was 1,435 MW AC as of the end of Q1 2014.
Want more on solar projections and reports? Try these articles:
Q1 Solar PV Demand Exceeds 9 GW
Report Forecasts Solar Glass Market Through 2019
Solar Installations Increased 41% Since 2012, According To Market Insight Report
Solar Capacity In The Americas Will Experience Massive Growth by 2030