2011 Record US Solar Growth

Domestic solar energy industry achieved a record for installations and growth in the third quarter of 2011, according to a new report

Released by GTM Research and the Solar Energy Industries Association (SEIA), the U.S. Solar Market Insight: 3rd Quarter 2011 report reveals that the US solar market installed more than 1,000 megawatts (MW) of solar capacity in the first three quarters of 2011, already surpassing the 2010 annual total of 887 MW.

In the third quarter, 449 MW was installed, a record for quarterly installations and more new solar electric capacity than was added in all of 2009. This also represents 140pc growth over the same quarter last year.

Looking forward, however, the outlook for continued strong growth is uncertain. The market impact of cheap Chinese solar panels and the potential expiration of the 1603 program weigh heavy on the industry. The SEIA report predicts that if there is no extension of the 1603 program, a tax equity bottleneck for projects will happen in 2012, leading to a possible slowdown in installations in late 2012 and into 2013.

“The US solar industry is on a roll, with unprecedented growth in 2011,” said Rhone Resch, president and CEO of SEIA. “Solar is now an economic force in dozens of states, creating jobs across America. But our industry needs stable policy on which to make business decisions, and unfortunately an underlying mechanism for financing solar projects is scheduled to expire on December 31.

“To keep the industry growing and creating jobs in the U.S. we need Congress to extend the 1603 program. The 1603 programme has done more to expand the use of renewable energy than any other policy in U.S. history.”