2015 is shaping up to be a massive year for solar panel installations, and the latest report from GTM Research’s Solar Market Insight Research suggests our capacity as a nation is expanding at an enormous rate. As of the second quarter of 2015, the United States has reached 20 gigawatts of total photovoltaic capacity, with 1.393 gigawatts coming from the most recent quarter alone.
Residential installations seemed responsible for the biggest amount of growth, with a 70 percent increase over last year. In addition, 10 different states were each responsible for installing 10 megawatts or more during this past quarter—that’s a substantial differentiation from prior years, when numbers have been artificially skewed by some states (i.e., California) significantly outperforming the others.
The research credits much of this year’s stunning growth to the fact that the federal solar Investment Tax Credit (ITC) is set to expire at the end of next year. Businesses and residents alike are scrambling to install now, while the credit is still active—even though it might still be renewed for an extension.
In the first six months of the year alone, the U.S. completed more than 2.7 gigawatts of installations. Taking into account all the projects that have yet to be completed and all the projects scheduled to start, we could reach an incredible 7.7 GW year.
As a company responsible for more than 1 GW of solar installations internationally, Solar FlexRack is eager to continue supporting the photovoltaic industry. With solar trackers, solar racks and other supportive technology, we help make panels more efficient and easier to install—making it more feasible for businesses to install solar panels to offset their energy costs.
2015 isn’t done yet, and next year looks to be even more productive than this one. Keep watch for the advancing trends and new breakthroughs for solar energy to come.