U.S. Solar Market Grows 76% in 2012

March 26, 2013

An analysis released by GTM Research and the Solar Energy Industries Association (SEIA) found that 3,313 megawatts (MW) of solar photovoltaics was installed in the U.S. in 2012.

The Solar Market Insight: Year in Review 2012 reported that the U.S. solar industry grew from $8.6 billion in 2011 to $11.5 billion in 2012. When broken down by state,  California, Arizona, and New Jersey all rank as the highest installers of solar energy. And commercial, governmental, and nonprofit systems installed more than 1,000 MW.

The report forecasts 4,300 MW of new PV installations in 2013, up 29 percent over 2012. "Over the next four years, the residential and commercial markets are expected to gain market share as system prices decline, the industry becomes even more efficient, and new financing channels arise."

Source: Green Tech Media


By Gaylen Davenport

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