Tuesday, June 18, 2019

Fwd: U.S. solar market to grow 25% in 2019

US solar industry installed 10.6 GW of new PV capacity in 2018, marking the third year in a row of double-digit gigawatt growth.
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U.S. Solar Market to Grow 25% in 2019

The U.S. saw its best Q1 in history, according to WoodMac and SEIA

In the first three months of the year, the U.S. installed 2.7 gigawatts of solar photovoltaics (PV), making it the most solar ever installed in the first quarter of a year. With the strong first quarter, Wood Mackenzie Power & Renewables forecasts 25% growth in 2019 compared to 2018, and it expects more than 13 GWdc of installations this year.

This data comes from the new U.S. Solar Market Insight Report from Wood Mackenzie and the Solar Energy Industries Association (SEIA), whom together announced in May that the U.S. hit the 2 million solar installation milestone during the first quarter of 2019.

Utility solar leads the way

The largest share of installations during the record-breaking quarter came from the utility PV segment, with 1.6 gigawatts coming on-line, making up 61 percent of PV capacity installed. The report notes that with 4.7 gigawatts of large scale projects under construction, 2019 is on track to be a strong year for utility PV, with 46 percent growth over 2018 expected.

For more information, download the executive summary or purchase the full report which includes state by state segment-level installation data and forecasts, policy analysis, PV system pricing breakdowns, and updates on module manufacturing.

 
Download executive summary

Want ongoing access to solar research, data, and analysts? Email us at contactus@woodmac.com for a demo and pricing information.

 
     
 
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