U.S. SOLAR TO DOUBLE AGAIN BY YEAR’S END

Cumulative US PV Market to Approach 20 GW by the End of 2014

Michael Barker, May 19, 2014 (SolarBuzz)

“Cumulative solar photovoltaic (PV) installations in the United States hit the 10 GW level in mid-2013 and are on course to double by early 2015, approaching the 20 GW figure by the end of 2014…Continuing cost declines – and a push by project developers to move projects towards completion before a reduction in the federal investment tax credit (ITC) – are helping to drive growth…[N]ew capital continues to flow into the sector, and novel business models are opening up markets where solar is competitive with retail electricity rates…[The] compound annual growth rate (CAGR) [is] above 50% since 2006…While large-scale ground-mounted systems continue to account for the largest share of the US market, all segments are seeing growth…With solar PV systems being recognized as a source of (relatively) low-risk long-term revenues, this asset class is proving increasingly attractive for installers and utility companies, as well as institutional investors and private owners/municipalities…” click here for more

click to enlarge

Tweet