Solar's New Surge
U.S. Utility Solar Pipeline Soars to 37.9 GW, A New Record; The U.S. solar industry now has the largest pipeline of utility-scale solar projects in history, signaling promising future prospects for solar energy development.
September 19, 2019 (Solar Energy Industries Association [SEIA] and Wood Mackenzie Power and Renewables)
“…[The contracted U.S. utility solar photovoltaics (PV)] pipeline has ballooned to a record 37.9 gigawatts (GW)… This follows record-high procurement of 15 GW in 2018. More than 6 GW of solar capacity were added to the five-year forecast [by Wood Mackenzie and SEIA] since last quarter because of the uptick in utility-scale deals…Utility solar project announcements surged to 11.2 GW in the first half of 2019, with 6.2 GW contracted in Q2 alone…[Residential solar deployment also] rebounded…[Several utilities have announced large solar procurements and] off-site corporate solar procurement represents 17% of the new utility-scale solar capacity announced in 2019… 55% of utility-scale projects announced in 2019 were the result of solar’s economic competitiveness with other generation sources.
Utility-scale solar prices are at their lowest point ever, with recent power purchase agreements signed for $18 - $35 per megawatt-hour…In Q2, 1 GW of utility-scale PV came online in the United States, representing nearly half of the total 2.1 GW installed in the quarter. The residential segment, helped by emerging state markets, saw both quarterly growth of 3% and annual growth of 8%...[The] non-residential segment, comprising of commercial, industrial, non-profit and community solar installations, experienced both quarterly and annual declines due to policy transitions and persistent interconnection issues in key markets…Total installed U.S. PV capacity will more than double over the next five years, with annual installations reaching 17.6 GWdc in 2021 prior to the [transition of the federal Investment Tax Credit (ITC)…” click here for more