SUN SETTING RECORDS

U.S. Solar Energy Industry Continues Record-Setting Growth in 2011; Market continues strong growth in Q1 2011, both in new installed capacity and increases in U.S. solar manufacturing
June 16, 2011 (Greentech Media)

"The U.S. solar energy industry continued to be one of the fastest-growing sectors of the economy in Q1 2011 according to the U.S. Solar Market Insight: Q1 2011…[from] the Solar Energy Industries Association® (SEIA®) and GTM Research…[C]umulative grid-connected solar electric installations have reached more than 2.85 gigawatts (GW), enough to power nearly 600,000 U.S. homes.

"In the first quarter of 2011, the United States installed 252 megawatts (MW) of grid-connected photovoltaics (PV) or 66 percent year-over-year growth over Q1 2010 installations. Two major factors drove this growth: falling solar energy equipment costs and a rush to take advantage of the Section 1603 Treasury program that was expected to expire in 2010 (the program was eventually extended through the end of 2011)."

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"All three PV market sectors (residential, commercial and utility) continued to grow, with commercial installations showing the strongest gains…Geographically, the U.S. market was concentrated in a few key states. In Q1 2010, the top seven states comprised 82 percent of total installations, but that figure grew to 88 percent in Q1 2011, implying that established, leading markets gained an even larger share. The pace of installations grew more than 50 percent in 11 of the 21 states analyzed in the report.

"Price declines were also an important factor in the Q1 2011 solar expansion, as technology costs fell and the industry matured further, capitalizing on greater economies of scale and streamlined project development and installation."

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"Domestic PV module production in Q1 2011 amounted to 348 MW, a 31 percent increase over Q1 2010…

"No CSP projects came online during Q1 2011, but a total of 1.1 GW of CSP and concentrating photovoltaic (CPV) projects are under construction. The concentrating solar industry continued its momentum, with several projects receiving government loan guarantees during the quarter..."