On March 5, 2014, GTM Research and the Solar Energy Industries Association (SEIA) released U.S. Solar Market Insight Report: 2013 Year in Review. The report is one of the most comprehensive solar reports, tracking and analyzing customer and utility-sited solar systems. The report finds the United States installed 4,751 MW of solar PV in 2013 – up 41% over 2012. There are now 12.1 GW of PV and 918 MW of concentrating solar operating in the United States.

Key Details

• The residential sector contributed 792 MW (60% annual growth over 2012); the non-residential sector contributed 1,112 MW (4% annual growth over 2012); and the utility sector contributed 2,847 MW (58% annual growth over 2012)
• The top five states—California, Arizona, North Carolina, Massachusetts, and New Jersey—accounted for 81% of all PV installations
• Key growth states: North Carolina grew 171% over 2012 to install 335 MW; Massachusetts grew 76% to install 237 MW; and Georgia grew 762% to install 91 MW in 2013
• The market value of all the PV installations completed in 2013 was $13.7 billion
• Weighted average of PV system prices across all sectors fell 15% to $2.59/W-dc in 2013; weighted average price of utility scale systems dropped to $1.96/W-dc

Implications

Supported by falling installed costs, state RPS requirements, and the federal ITC, the solar industry had a record year in 2013. Forecasts indicate that strong year-over-year growth will continue until the ITC is reduced from 30% to 10% in 2017.

Further Information

Executive summary: http://www.seia.org/research-resources/solar-market-insight-report-2013-year-review

This report is part of the Clean Tech & Sustainability Minute series. To view all featured Minutes, please click here.