In a report released June 12 by the Solar Energy Industries Association and green energy market analysis firm GTM Research, during the first quarter of 2012, the U.S. solar industry experienced the second best quarter to date. Furthermore, the report predicts that the remainder of 2012 will see 75 percent growth for total installed U.S. solar power, pointing to the biggest year ever for solar in the United States.
Installments of photovoltaics, which convert sunlight directly to electricity, were up 85 percent from the first quarter of 2011, reaching 506 megawatts.
The report, which is available for download through the SEIA website, outlines the significance of the strong U.S. showing as as it “came amidst turmoil in the global solar industry.”
Shayle Kann, vice president of research at GTM, told Talking Points Memo that the future of U.S. solar is bright.
“We’re expecting [to] see growth in all three sectors: residential, commercial and utilities,” Kann said.
This report comes on the heels of the United Nations Environment Programme’s report “Global Trends in Renewable Energy Investment,” which showed global investment in renewable energy sources up 17 percent from 2011, at a record-breaking $257 billion.