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US Solar Market Sets New Record, Installing 7.3GW of Solar PV in 2015

Posted in Science on 23rd Feb, 2016 08:58 PM by AlexMuller

In yet another record-breaking year, the solar industry in the United States installed 7,286 megawatts of solar PV in 2015. GTM Research and the Solar Energy Industries Association announced the historic figures today ahead of the March 9 release of the U.S. Solar Market Insight report.

For the first time ever, solar beat out natural-gas capacity additions, with solar supplying 29.5 percent of all new electric generating capacity in the U.S. in 2015.
Led by California, North Carolina, Nevada, Massachusetts and New York, the U.S. solar market experienced a year-over-year growth rate of 17 percent. Geographically, the market continues to diversify with 13 states installing more than 100 megawatts each in 2015. States that made major solar strides include Utah, which jumped in the rankings from 23rd to 7th place, and Georgia, which moved from 16th to 8th in the nation.
Without a doubt, 2015 was a monumental year for the U.S. solar industry, and perhaps what’s most amazing is that we’re only getting started,” said SEIA president and CEO Rhone Resch. “Over the next few years, we’re going to see solar continue to reach unprecedented heights as our nation makes a shift toward a carbon-free source of energy that also serves as an economic job-creating engine.”
“The U.S. solar market remains concentrated in key states, with the top 10 states accounting for 87 percent of installed capacity in 2015,” said Shayle Kann, senior vice president of GTM Research. “But growth has been widespread, and 24 of the 35 states that we track saw market growth in 2015.”
Key findings:
The U.S. installed 7,286 megawatts of solar photovoltaics (PV) in 2015, the largest total ever and 17 percent above 2014
The 7.3 gigawatts installed in 2015 is 8.6 times the capacity installed five years earlier in 2010
Residential was once again the fastest-growing sector, installing over 2 gigawatts for the first time and growing 66 percent over 2014
Utility solar PV also had a record year with over 4 gigawatts installed, up 6 percent over 2014
110 megawatts (AC) of concentrating solar power (CSP) capacity came on-line in late 2015 when SolarReserve’s Crescent Dunes project began sending electricity to the grid
Non-residential solar was essentially flat for the third year in a row, installing just over 1 gigawatt
Cumulative solar PV installations reached over 25 gigawatts by the end of the year, up from just 2 gigawatts at the end of 2010

Tags: solar energyclean energyenergyrenewable energypowerhardwarebusiness

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