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US Solar Industry Records Second Largest Quarter Ever

U.S. Solar Industry Records Second Largest Quarter Ever

The U.S. installed 930 MW of photovoltaics (PV) in Q3 2013.

GTM Research and the Solar Energy Industries Association (SEIA) recently released U.S. Solar Market Insight: 3rd Quarter 2013, the definitive analysis of solar power markets in the United States, with strategic state-specific data for 28 U.S. states and the District of Columbia.

The U.S. installed 930MW of photovoltaics (PV) in Q3 2013, up 20% over Q2 2013 and 35% over Q3 2012. This represents the second largest quarter in the history of the U.S. solar market and the largest quarter ever for residential PV installations. Even more importantly, 2013 is likely to be the first time in more than 15 years that the U.S. installs more solar capacity than world leader Germany, according to GTM Research forecasts.

The residential market continues its rapid growth. Through Q3, residential PV installations were up 45% year-over-year, driven largely by increasingly attractive economics and by fair net metering policies. The non-residential (commercial) market has seen the most difficulty this year with installations forecasted to stay flat over last year. The utility market continues its consistently strong installation numbers and is forecasted to exceed 1 GW of installations in the fourth quarter. This will be the first time any individual market segment has hit that mark.

At the state-level, California continues to lead the solar PV charge, installing 455MW in Q3. North Carolina moved into the number three spot in total PV installations with 23% growth over last quarter. Other movers and shakers on the state rankings list include Nevada (moving from 17 to 5) and Vermont (from 21 to 12)

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