Another Record Year for Solar

Monokristalline Solarmodule vor sonnigem Himmel

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.

The solar industry in the United States installed 7,286 megawatts (MW) of solar photovoltaics (PV) in 2015 a 17% increase from 2014 and an 860% increase since 2010.

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Source: GTM Research / SEIA U.S. Solar Market Insight Report

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 MW each in 2015. States that made major solar strides include Utah, which jumped in ranking from 23rd to 7th place, and Georgia which moved from 16th to 8th in the nation.

FIGURE: Ranking States by Annual PV Installations

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Source: GTM Research / SEIA U.S. Solar Market Insight Report

The residential solar market grew 66% since 2014 and for the first time in history, eclipsed two gigawatts (GW). The residential solar segment now represents 29 percent of the entire U.S. solar market – its largest share since 2009.

Cumulative U.S. solar PV installations have now topped 25 GW, up from 2 GW in 2010.

FIGURE: Share of U.S. PV Installations by Segment, 2000-2015

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Source: GTM Research / SEIA U.S. Solar Market Insight Report

“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 and job-creating engine.”

“The U.S. solar market remains concentrated in key states, with the top ten 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 individually saw market growth in 2015.”

On March 9, GTM Research and SEIA will release the complete U.S. Solar Market Insight 2015 Year-in-Review with detailed market analysis and updated forecasts.

 

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