2012 Q1 U.S. Solar Market Update
From GreenTech Media
Clean Tech Trends
The first quarter of the year was the second highest on record for solar installations. 18,000 photovoltaic (PV) systems were installed generating a total of 506 megawatts (MW) of power. Residential and non-residential PV systems markets grew despite the uncertainty of project finance availability and import tariffs.
GTM Research estimates that U.S. share of PV installations worldwide will hit almost 11% in 2012, which is an increase from 7% in 2011 and 5% in 2010. This would put the U.S. market at number 4 worldwide.
Pricing continues to come down. Both polysilicon and PV components have been subject to oversupply globally since early 2011. PV installation prices too were down year over year: residential prices decreased 7.3%, commercial down 11.5%, and utility prices came down a whopping 24.7%. New Jersey led the U.S. states with 174 MW of installations in Q1, California is close behind.
One concentrating PV (CPV) project was completed in Q1, but no concentrating solar power (CSP) projects. Concentrating Solar Power construction continues with 1.1 GWac currently being constructed.
What will the impact be of the current market and regulatory uncertainties? Will the Chinese import tariffs or the expiration of the 1603 Treasury Program cause a huge dip in the solar market progress in the U.S.?
To learn more about the state of the PV market, check out the free webinar “PV Technology, Production and Cost Outlook: 2012-2016” that GreenTechMedia is holding on Tuesday July 31, 2012 2:00 PM ET/11:00 AM PT. You can register here.
The U.S. Solar Market Insight Q1 2012 Report is now available from GreenTech Media.
Access it on the GTM website at.