Solar Market: Trending at Unparalleled Rates

Thu, 2014-04-17 12:48

According to the 2013 U.S. Solar Market Insight® Report, solar energy is currently trending at rates never before seen until now. The quarterly publication, published by GTM Research and the Solar Energy Industries Association (SEIA)®, indicates that solar photovoltaic (PV) installations increased by a whopping 41% in comparison to 2012 data – that is 4,751 megawatts worth of PV installations. Just to give you a grasp on this figure, a single megawatt of solar can power an average of 164 homes.

Solar has become the second largest power source “of new electricity generating capacity” in the United States, second only to natural gas. In addition – drum roll, please – the cost of solar installation is reducing! Compared to the 2012 expense of installing solar, 2013 prevailed with average installation rates of about 15% less.

Chart of New U.S. Electricity Generation

Where We’re Seeing the Biggest Changes

In particular, three states rose to the occasion in terms of marking their dominance in the market. Everblue’s home state, North Carolina, grew 171% in comparison to 2012 installations, Massachusetts grew 76%, and Georgia grew by an impressive 762%.

According to the report, utility solar is increasing as well. Over 2.8 Gigawatts (GW) were installed in the U.S. in 2013 alone. For scale, keep in mind that 1 MW equals 0.0010 GW. This is a huge indication of the fundamental shift toward cleaner energy. Arizona, California, and North Carolina collectively accounted for 87% of 2013 utility solar PV installations.

Needless to say, with our passion for sustainability, Everblue is excited to see that the clean energy movement is gaining momentum. As the nation’s premier sustainability training provider, we are proud that our mission to Train Earth’s Sustainable Workforce™ is producing the qualified energy professionals that are making a difference on the front line. It will definitely be interesting to find out how 2014 stacks up against 2013!

If you would like to learn more about solar and how you can make a difference in the renewable energy industry, please visit our Solar & Wind Overview page.

By Bailey Newell