2011 U.S. Solar Market Insight Report was published yesterday by the SEIA (Solar Energy Industries Association) and GTM Research, bringing to light some good news: US solar industry more than doubles its capacity, soaring 109% in comparison with last year.
“The U.S. solar energy industry installed a record 1,855 megawatts (MW) of photovoltaic (PV) capacity in 2011, more than doubling the previous annual record of 887 MW set in 2010, according to the latest U.S. Solar Market Insight report. The record amount of solar installations is enough to power more than 370,000 homes, and represents a 109 percent growth rate in 2011. It is the first time the U.S. solar market has topped one gigawatt (1,000 MW) in a single year “, says SEIA. GTM Research and the Solar Energy Industries Association have estimated that the U.S. solar market is valued in more than $8.4 billion in 2011.
This report also expects another boost for this 2012 in the U.S. solar sector, as well as the following years. Rhone Resch, president of the SEIA, said that other 3 GW of solar PV are being installed this year, which are projected to grow around a 30% annually. “The solar industry is the fastest growing industry in America for the second year in a row. What we are seeing in the U.S. is that policies are working to open new markets and remove barriers for solar,” he says.