Solar Market Insight Report 2014 Q4
The U.S. Solar Market Insight™ report shows major trends in for the U.S. solar industry. Every quarter this report is produced.
Important Key Points
- The U.S. installed 6,201 MWdc of solar PV in 2014, up 30 percent over 2013, making 2014 the largest year ever in terms of PV installations.
- 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 MWdc mark for cumulative operating solar PV installations, and California’s market alone is home to 8.7 GWdc.
- For the first time ever, more than half a gigawatt of residential solar installations came on-line without any state incentive in 2014.
- 32 percent of all new electric generating capacity in the U.S. came from solar in 2014.
- Growth remains driven primarily by the utility solar PV market, which installed 1.5 GWdc in Q4 2014, the largest quarterly total ever for any market segment.
- We forecast that PV installations will reach 8.1 GWdc in 2015, up 31 percent over 2014. Growth will occur in all segments, but will be most rapid in the residential market.
- 2014 was the largest year ever for concentrating solar power, with 767 MWac brought on-line. Notable project completions include the 392 MWac Ivanpah project. Genesis Solar project’s second phase of 125 MWac, and Abengoa’s Mojave Solar (250 MWac), which achieved commercial operation in December 2014.