Shattering all previous quarterly results, a whopping 4,143MW of solar PV were installed in Q3 2016, at a rate of one megawatt every 32 minutes, according to new analysis by GTM Research and the Solar Energy Industries Association (SEIA). Increasing 99% over the previous quarter and 191% year-over-year, Q3 2016 marks the largest quarter ever for the US solar industry.
The main driver for this growth can be attributed to an “unprecedented rate of project completion” in the utility-scale segment. The report cites that utility-scale accounted for 77% of all solar PV installed in Q3.
“Coming off our largest quarter ever and with an extremely impressive pipeline ahead, it’s safe to say the state of the solar industry here in America is strong,” said Tom Kimbis, SEIA’s interim president. “The solar market now enjoys an economically-winning hand that pays off both financially and environmentally, and American taxpayers have noticed. With a 90% favourability rating and 209,000 plus jobs, the US solar industry has proven that when you combine smart policies with smart 21st century technology, consumers and businesses both benefit.”
Whilst the third quarter may have broken records, the momentum is set to continue with even better figures in store for Q4. GTM Research anticipates that 4.8GW of utility PV projects will come online in the last quarter of the year; even more than was installed across the entire segment in all of 2015.
+Info and Source: https://goo.gl/iFfnwc