U.S. Market Installs 832 Megawatts in Q2 2013; Grows 15% Over Last Quarter
The U.S. solar market had its second largest quarter in history. The industry installed 832 MW of photovoltaic (PV) capacity, up 15% over deployment levels in Q1 2013. The utility PV market drove much of the growth in Q2 2013 with over 450 MW of projects commissioned in the quarter. The overall solar electric market remains on pace for another record year, with 4,400 MW of PV and over 900 MW of concentrating solar power (CSP) projected to come online in 2013. (All data from SEIA/GTM Research “U.S. Solar Market Insight: Q2 2013” unless otherwise noted.)
U.S. Solar Industry Continues to Boom
- There are now over 9,370 MW of cumulative solar electric capacity operating in the U.S., enough to power more than 1.5 million average American homes.
- It is expected that by the end of 2013, a solar project will have been installed, on average, every four minutes in the U.S.
- The utility market had another strong quarter. 38 projects, totaling over 450 MW, came online throughout Q2 2013.
Falling Costs Make Solar More Affordable Than Ever
- The average cost of a completed PV system dropped by 11 percent over the past year to $3.05/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
- 4,400 MW of PV are forecasted to come online throughout 2013, which represents 30% growth ove 2012 installation totals.
- 2013 will be a record year for CSP as over 900 MW are expected to be commissioned by years end.
- Cumulative PV capacity is projected to surpass 10 GW by years end.
- Together, new solar electric capacity added in 2013 will generate enough clean energy to power over 860,000 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