Q2 Report Shows US Solar Market Booming, Utility-scale Projects Leading

By Ucilia Wang, Contributor
10 September 2012   

 

California, USA -- Solar panel installations in the United States more than doubled in the second quarter of this year, and it is on track to increase 71 percent in 2012 from the previous year, according to a report released by the Solar Energy Industries Association and GTM Research today.

The second quarter saw blockbuster growth for projects built for utility owners or for selling power to utilities. Developers built 477 MW of utilty-scale projects during the second quarter and are building another 3,400 MW, which is equal to 71 percent growth over 2011. They will likely complete 1.1 GW during the second half of 2012, according to the report. As of today, total installed capacity is at 5.1 GW for PV and 546 MW for CSP. 

The growth of the utility segment came as no surprise given that many states now require their electricity retailers to increase the amount of renewable energy they sell to consumers. California’s utilities recently marked a big milestone of meeting a 20 percent goal, and they are tasked to reach 33 percent by 2020.