Solar Accounts for 64% of New Electric Capacity Additions in Q1, Set to Grow 94% in 2016
Updated June 9, 2016
The U.S. installed 1,665 megawatts (MW) of solar PV in Q1 2016 to reach 29.3 gigawatts (GW) of total installed capacity, enough to power 5.7 million American homes. With more than 1 million individual solar installations nationwide, the industry is on pace to nearly double in size in 2016. The residential solar market remained strong, with a fourth consecutive quarter with more than 500 MW of capacity brought online.
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.
BOSTON, MASS AND WASHINGTON, D.C. - In the first quarter of 2016, 1,665 megawatts (MW) of solar PV were installed in the United States with the solar industry adding more new capacity during this period than coal, natural gas and nuclear combined. According to GTM Research and the Solar Energy Industries Association’s (SEIA) U.S. Solar Market Insight, Q2 2016, the 1,665 MW accounted for 64 percent of all new electric generating capacity brought on-line in the first quarter of the year.
For more facts and figures about the U.S. solar industry, including historical data and future projections, click here.
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- Click to Tweet: #Solar accounted for a STUNNING 64% of all new electric generating capacity to come online in Q1 of 2016 #SolarisNow seia.org/smi
- Click to Tweet: The #solar industry is projected to add 14.5 GW of capacity this year, breaking last year's record by 94 PERCENT! seia.org/smi
- Click to Tweet: A new SMI report shows that more #solar capacity was added in Q1 than coal, natural gas, and wind combined! seia.org/smi
- Click to Tweet: The new #SMI report supports the longer term forecast that the #solar industry will nearly quadruple by 2021! seia.org/smi
- Click to Tweet: Texas will install more utility-scale #solar power than all but one state over the next 5 years #TexasSolar seia.org/smi