SEIA: U.S. Solar Market Surpasses 20 Gigawatts

The Solar Energy Industries Association (SEIA) announced on September eight that the U.S. solar industry surpassed 20 gigawatts (GW) of total operational solar photovoltaic (PV) capacity during the 2nd quarter of 2015. The Q2 2015 U.S. Solar Market Insight Report, released by SEIA and GTM Research, also found that the U.S. installed 1.393 megawatts GW of PV capacity in the 2nd quarter. And while the U.S. installed 2.7 GW of PV in the 1st 6 months of 2015, SEIA expects significant growth in the 2nd half of the year, bringing the yearly total to a record-breaking 7.7 GW.

According to SEIA, utility-scale PV represented in excess of half of the second-quarter total, at 729 megawatts (MW), and U.S. utility-scale development is now at an all-time high, with in excess of five GW under construction. The residential solar market is also burgeoning with 473 MW installed in the 2nd quarter, representing 70% growth relative to the 2nd quarter of 2014. That market is also diversifying, as ten states each installed in excess of ten MW-two years ago, only 4 states were installing that much solar capacity. And although the non-residential market finished the quarter down 33% from the same period last year, SEIA sees the ongoing growth of community solar, innovative financing, and improving market dynamics in several states as signs of stronger growth in this market segment going forward. See the SEIA news release and the report.

SEIA is also aiming to help the solar market grow through the new SEIA Finance Initiative, which aims to enable investment and pooling of solar cash flows into liquid, tradable securities that large-scale capital managers-such as pension funds and others-could invest in. The SEIA Finance Initiative will also work to remove barriers and accelerate solar adoption by stakeholders that could benefit most from harnessing clean, affordable solar energy. One key goal of the initiative is to drive up solar adoption in commercial markets. See the SEIA news release.

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