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Residential solar installs post largest quarterly growth ever
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| Contributor | RP |
| Last Edited | RP Jun 12, 2015 09:21am |
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| Category | Report |
| Author | Lucas Mearian |
| News Date | Tuesday, June 9, 2015 08:05:00 PM UTC0:0 |
| Description | Residential installations of rooftop photovoltaic (PV) panels in the U.S. led the solar power market in the first quarter of this year, posting a record sequential 11% growth rate. That's the largest such uptick in history.
Residential systems were up 76%, compared with the first quarter of 2014, according to a U.S. Solar Market Insight report released today.
In all, the U.S. solar market saw just over 1.3 gigawatts (GW) of capacity installed in the first quarter, according to the report. It was the sixth consecutive quarter that solar power capacity in the U.S. grew by more than 1GW.
"We forecast that PV installations will reach 7.9GW in 2015, up 27% over 2014," the report stated.
Collectively, more than 51% of all new electric generating capacity in the U.S. came from solar in Q1, 2015. In the first quarter, the residential and utility PV market segments each added more capacity than the natural gas industry brought on line, the report said.
New installations of solar power capacity surpassed those of wind and coal for the second year in a row, accounting for 32% of all new electrical capacity, according to a a report released earlier this year by GTM and the SEIA. |
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