The best solar energy quarter on record happened in 2020. In fact, is quickly becoming targeted as The Solar Decade. We will have solar cars, boats, home systems, backpacks, outdoor barbeques, and more innovations than we can keep track of.
According to Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, “The first quarter data and projections for the rest of the year are promising for the solar industry.”
To be specific, in the first three months of the year, the U.S. installed 2.7 gigawatts of solar PV. As a result, making it the first quarter of a year with most solar ever installed. Also, this news comes on the heels of more than 2 million solar installations that were completed in May alone.
With news like this, Wood Mackenzie Power & Renewables forecasts 25% growth in 2019 compared to 2018, and according to their “U.S. Solar Market Insight” report, we can expect more than 13 GWDC of installations this year.
Here is a graph of the figures
Interestingly, the largest share of installations during the record-breaking quarter came from the utility PV segment. As a matter of fact, 1.6 gigawatts came online, making up 61% of PV capacity installed. Moreover, the 4.7 gigawatts of large-scale projects under construction, make 2019 growth of utility PV, 46% stronger than 2018.
Another interesting finding of the report – while the U.S. saw 603 megawatts of residential solar installations during the first quarter, up 6% annually, a large share of those (29%) came from emerging markets outside of the Top 10 solar states.
Here are a few key findings of the report
Total installed U.S. PV capacity will more than double over the next five years, with annual installations reaching 16.4 GWDC in 2021.
The U.S. solar market went from 1 million installation to more than 2 million installations in just three years. Now, is it expected to hit 3 million installations in 2021 and 4 million installations in 2023.
Wood Mackenzie Power & Renewables forecasts 25% growth in 2019 compared to 2018, for utility-scale solar and it expects more than 13 GWdc of installations in 2019.
Total installed U.S. PV capacity will more than double over the next five years, with annual installations reaching 16.4 gigawatts in 2021.
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