Help Desk -
9958816305, 9810335381

Solar Market Insight Report 2019 Q3

Power News - Published on Fri, 20 Sep 2019

Image Source:
The quarterly SEIA/Wood Mackenzie Power & Renewables US Solar Market InsightTM report shows the major trends in the US solar industry. In Q2 2019, the US solar market installed 2.1 gigawatts direct current of solar photovoltaic capacity, a 7% decrease YoY. After residential solar grew 8% in 2018, the sector has continued to stabilize in the first half of this year, with 8% year-over-year growth in Q2 following 7% year-over-year growth in Q1. Conversely, non-residential PV suffered both quarterly and annual declines due to policy transitions and persistent interconnection issues in key commercial markets. The quarter saw 1 GWdc of utility-scale installations, slightly lower than average, but with new project procurement growing the contracted pipeline to a record high of 37.9 GWdc. Across all market segments, solar PV accounted for 36% of all new electricity generating capacity additions in the first half of 2019.

Key Figures
In Q2 2019, the US solar market installed 2.1 GWdc of solar PV, representing a 7% decline from Q2 2018.
US utility PV has seen 11.2 GWdc of new projects announced in the first half of 2019, bringing the utility PV pipeline to a historic high of 37.9 GWdc.
Residential solar continues its rebound, growing 3% quarter-over-quarter and 8% year-over-year. Q2 2019 was the fourth consecutive quarter of more than 600 MWdc of installed residential capacity.
Non-residential PV saw 426 MWdc installed a decline from Q1 as policy shifts in states including California, Massachusetts and Minnesota continue to impact growth.

Wood Mackenzie forecasts 17% year-over-year growth in 2019, with 12.6 GWdc of installations expected. In total, more than 6 GW were added to the five-year forecast since last quarter to account for new utility-scale procurement.

Total installed US PV capacity will more than double over the next five years, with annual installations reaching 17.6 GWdc in 2021 prior to the expiration of the federal Investment Tax Credit for residential systems and a drop in the commercial tax credit to 10% for projects not yet under construction.

Source :

Posted By : Rabi Wangkhem on Fri, 20 Sep 2019
Related News from Power segment