The U.S. residential solar market reached document highs in the third quarter of 2019, with 712 MW of solar put in, in response to the most recent U.S. Solar Market Insight report from Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA).
The U.S. solar market general added 2.6 GW of PV in the third quarter, bringing whole U.S. solar capability to 71.3 GW.
The improve in residential installations helped the U.S. solar market develop 45% year-over-year and contributed to 15 states having their finest quarter ever for residential solar. States with smaller solar markets – comparable to Idaho, Wyoming, New Mexico and Iowa – all noticed document residential development as a result of continued worth declines and enhancements to the financial competitiveness of solar throughout the nation.
“This positive report makes clear that American families are demanding energy choice and solar, and that our industry is ready to deliver,” says Abigail Ross Hopper, president and CEO of SEIA. “This is the kind of growth and investment we could see going forward if we make smart policy moves, like extending the solar investment tax credit and stopping additional tariffs. Failure to make these policy moves will limit deployment potential and cost jobs.” ”
California continues to be the most important residential solar market, putting in practically 300 MW in the third quarter of 2019, breaking its personal quarterly document.
“While California has always led the country in solar deployment, the drivers behind that growth have shifted,” says Austin Perea, senior solar analyst for Wood Mackenzie. “This is primarily due to new-build solar demand and increased consumer interest in solar storage solutions as a result of public safety power shutoffs that have left hundreds of thousands of utility customers in the dark.”
Wood Mackenzie is forecasting that the overall quantity of solar put in in the U.S. in 2019 will attain 13 GW, representing 23% annual development.
Other key findings from the report embrace the next:
- The 2.6 GW DC of solar PV put in in Q3 2019, represents a 45% improve from Q3 2018 and a 25% improve from Q2 2019.
- A complete of 21.3 GW DC of latest utility PV initiatives had been introduced from Q1 to the tip of Q3, bringing the contracted utility PV pipeline to a document excessive of 45.5 GW DC.
- Non-residential PV noticed 445 MW DC put in as coverage shifts in states together with California, Massachusetts and Minnesota proceed to gradual development.
Wood Mackenzie forecasts 23% year-over-year development in 2019, with 13 GW DC of installations anticipated. In whole, greater than 9 GW had been added to the five-year forecast since final quarter to account for brand new utility-scale procurement.
Total put in U.S. PV capability will greater than double over the subsequent 5 years, with annual installations reaching 20.1 GW DC in 2021 previous to the expiration of the federal funding tax credit score for residential methods and a drop in the industrial credit score to 10% (underneath the present model of the legislation).
For extra particulars in regards to the report, click on here.
Photo: sPower‘s Antelope project in Lancaster, Calif.