U.S. PV Market Installs 930 Megawatts in Q3 2013; Second Largest Quarter Ever
The third quarter of 2013 was the second largest on record for the U.S. solar industry. There were 930 MW of new photovoltaic capacity installed in Q3 2013, representing a 35 percent increase in deployment over the third quarter of 2012. The strong third quarter keeps the U.S. market on pace for another record year. SEIA and GTM Research forecast that an additional 1,780 MW of PV and 800 MW of concentrating solar (CSP) will be installed in the fourth quarter of 2013 alone, bringing the total for the year to over 5,000 MW of new solar electric capacity. (All data from SEIA/GTM Research “U.S. Solar Market Insight: Q3 2013” unless otherwise noted.)
Installations Continue to Boom
- There are now over 10,250 MW of cumulative solar electric capacity operating in the U.S., enough to power more than 1.7 million average American homes.
- The residential segment had its best quarter on record with 186 MW installed.
- The utility market made up over half of all new Q3 capacity installed. There were 52 utility projects completed in the third quarter, totaling 539 MW.
Falling Costs Make Solar More Affordable
- The average cost of a completed PV system dropped by 16 percent over the past year to $3.00/W.
- The average price of a solar panel has declined by 60 percent since the beginning of 2011.
- While these price drops are beneficial for solar consumers, the sharp fall in prices, due in part by a global oversupply, has put a serious strain on solar manufacturers worldwide.
Another Record Year of Installations
- 4,300 MW of PV are forecasted to come online throughout 2013, which represents 27% growth over 2012 installation totals.
- 2013 will be a record year for CSP as 800 MW are expected to be commissioned by year's end.
- Together, new solar electric capacity added in 2013 will generate enough clean energy to power over 850,000 average American homes.
Solar Energy Is An Economic Engine
As the solar industry grows, so does its impact on the economy. According to The Solar Foundation's Solar Job Census 2012, there are more than 119,000 solar workers in the U.S., a 13.2 percent increase over employment totals in 2011. These workers are employed at 6,100 businesses operating at over 7,800 locations in every state. The increasing value of solar installations has injected life into the U.S. economy as well. In 2012, solar electric installations were valued at $11.5 billion, compared to $8.6 billion and $6 billion in 2010.
National Solar Database
SEIA is collects detailed information on solar companies across the U.S. to help support our advocacy efforts. The information collected includes company name, contact name, addresses of each company location, type of business, product or service, and solar employment statistics.
Solar Companies Across the United States from
SEIA's National Solar Database