U.S. Solar Market Growing Exponentially

Solar power is finally taking off! U.S. megawatts have increased 45% in the last quarter. GTM research analysts anticipate 3,200 megawatts will be installed nationwide by Dec. 2012. A 71% increase over 2011.

butterfly-in-front-of-solar-panel2After years of slow growth, “photovoltaic solar panels installed in the United States reached 742 megawatts in Q2 2012, according to a report released Monday by GTM Research and the Solar Energy Industries Association, up from 512 megawatts in Q1 2012.”

Analysts with GTM research expect that by year-end, 3,200 megawatts will be installed nationwide, up 71 percent over 2011. The recent growing spike in solar power is partly from homes and businesses, but mostly from larger, utility-scale power plants. 20 large solar power plant projects, mostly in Arizona and California, account for 477 of the 742 megawatts gained this quarter.

California remains the nation’s leading market, with 217 megawatts installed in the second quarter, followed by Arizona with 173 megawatts.

This report was released in anticipation of Solar Power International in Orlando, FL. President Bill Clinton is to give the keynote speech on Wednesday.


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