The United States’ solar market hit a major milestone in the second quarter of this year, with more than half a million homes and businesses now generating solar energy. According to GTM Research and the Solar Energy Industries Association’s (SEIA) Q2 2014 U.S. Solar Market Insight Report, the U.S. installed 1,133MW of solar photovoltaics in the second quarter of this year. The residential and commercial segments accounted for nearly half of all solar PV installations in the quarter. The residential market has seen the most consistent growth of any segment for years, and its momentum shows no signs of slowing down. Across the United States, cumulative PV and concentrating solar power (CSP) operating capacity has eclipsed 15.9 gigawatts (GW), enough to power more than 3.2 million homes.
“Solar continues to be a primary source of new electric generation capacity in the U.S.” said Shayle Kann, Senior Vice President at GTM Research. “With new sources of capital being unlocked, design and engineering innovations reducing system prices, and sales channels rapidly diversifying, the solar market is quickly gaining steam to drive significant growth for the next few years.” GTM Research and SEIA forecast 6.5 GW of PV will be installed in the United States by the end of this year, up 36 percent over 2013.