Utility PV accounts for two-thirds of installations in Q1 2014
May 29, 2014 | By
Barbara Vergetis Lundin
The United States installed 1,330 MW of solar photovoltaics (PV) in the first quarter of 2014, driven by strong year-over-year growth in the utility and residential markets, according to GTM Research and the Solar Energy Industry Association (SEIA). For the first time, the U.S. installed more residential PV than commercial (232 MW vs. 225 MW, respectively), due to ongoing strength in the residential sector and volatility in the non-residential market. However, despite the decline in non-residential installations, GTM Research and SEIA expect the market to rebound and exceed the residential market in 2014 annual PV installations.
Q1 2014 was also the largest quarter ever for concentrating solar power (CSP) due to the completion of the 392 MW Ivanpah project and the Genesis Solar project's second 125 MW phase. With a total of 857 MW expected to be completed by year's end, 2014 is on pace to be the largest year for CSP in history, according to GTM and SEIA. "Solar accounted for 74 percent of all new U.S. electric capacity installed in Q1 2014, further signaling the rapidly increasing role that solar is playing in the energy market," said Shayle Kann, senior vice president at GTM Research. "Expect to see a resurgence in the non-residential market, combined with continued incremental residential growth, throughout the rest of this year." The utility PV market continued its dominance, growing 171 percent between Q1 2013 and Q1 2014 and, with 873 MW installed, accounted for two-thirds of total installations during the quarter, according to the research. Large-scale projects that were under contracts and negotiations between 2010 and 2012 are now becoming a reality. The United States' solar market is off to a strong start in 2014. GTM Research and SEIA forecast that 6.6 GW of PV will be installed in the U.S. by the end of the year -- up 39 percent over 2013. For more: © 2014 FierceMarkets, a division of Questex Media Group LLC. All rights reserved. http://www.fierceenergy.com/story/utility-pv-accounts-two-thirds-installations-q1-2014/2014-05-29 |