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New Report from SEIA and GTM Research Shows U.S. Solar Energy Industry Sets ...

01.01.70

Washington, DC (PRWEB) December 14, 2011

The U.S. solar energy industry achieved a new record for installations and growth in the third quarter of 2011 thanks to utility-scale project completions, a strong residential market, effective policies and the plummeting price of solar panels, according to a report released today by GTM Research and the Solar Energy Industries Association (SEIA).

Through the third quarter of 2011, the U.S. solar market has installed more than 1,000 megawatts (MW) of solar capacity on the year, already surpassing the 2010 annual total of 887 MW, according to the U.S. Solar Market Insight: 3rd Quarter 2011 report. This includes 449 MW installed in the third quarter alone – a record for quarterly installations and more new solar electric capacity than was added in all of 2009. This also represents 140 percent growth over the same quarter last year.

Much of this growth is due to the Department of Treasury's 1603 program, which is set to expire on Dec. 31 unless Congress extends it. In the absence of an extension of the program, the report predicts that there will be a tax equity bottleneck for projects in 2012, leading to a possible slowdown in installations in late 2012 and into 2013.

Source: PR Web (press release)