GTM/SEIA Report: U.S. Solar Industry shows record growth in 2014
GTM Research and the Solar Energy Industries Association (SEIA) released yesterday the U.S. Solar Market Insight 2014 Year in Review report, the definitive source of installation data, forecasting and policy analysis for the U.S. solar market.
Key findings
- The U.S. installed 6,201 MW of solar PV in 2014, up 30 percent over 2013, making 2014 the largest year ever in terms of PV installations.
- Solar provided roughly one third of all new electric generating capacity in the U.S. in 2014.
- More than one third of all cumulative operating PV capacity in the U.S. came on-line in 2014.
- By the end of 2014, 20 states eclipsed the 100 MW mark for cumulative operating solar PV installations, and California alone is home to 8.7 GW.
- For the first time ever, more than half a gigawatt of residential solar installations came on line without any state incentive in 2014.
- Growth remains driven primarily by the utility solar PV market, which installed 1.5 GW in Q4 2014, the largest quarterly total ever for any market segment.
- PV installations are forecast to reach 8.1 GW in 2015, up 59% over 2014.
- 2014 was the largest year ever for concentrating solar power, with 767 MW brought on-line. Notable project completions include the 392 MW Ivanpah project. Genesis Solar project’s second phase of 125 MW and Abengoa’s Mojave Solar (250 MW), which achieved commercial operation in December 2014.
- All solar projects completed in 2014 represent $17.8 billion in investment ($13.4 billion in PV and $4.4 billion in CSP).
- As of the end of 2014, cumulative operating PV in the U.S. totaled 18.3 GW and cumulative operating CSP totaled 1.7 GW.
Interview
GTM Research VP Shayle Kann speaks with SolarPV.TV about the rapid expansion in the U.S. solar market.
Free Executive Summary
To download a free copy of the Solar Market Insight Report Executive Summary click here.
Full Report
The full report includes all the data and analysis from our Executive Summary plus incisive, state-level breakdowns of installations, costs, manufacturing and demand projections. Full report available for purchase here.
Source: U.S. Installs 6.2 GW of Solar PV in 2014, Up 30% Over 2013 Press Release by SEIA. Featured Image Credit: GTM Research & SEIA.Video Credit: SolarPV.TV. Executive summary Credit: GTM Research & SEIA.
