U.S. Solar’s Best Quarter Ever
The U.S. solar industry installed 449 megawatts of new capacity in the third quarter of 2011. Photo: Flickr/russf
The U.S. solar industry shattered records in the third quarter of 2011, installing 449 megawatts of new capacity in just three months, according to a recent report issued by GTM Research and the Solar Energy Industries Association (SEIA).
More U.S. solar electric capacity came online in the third quarter of 2011 than all of 2009 combined, and the fourth quarter is predicted to be even bigger, according to the U.S. Solar Market Insight: 3rd Quarter 2011 report.
The industry installed more than 1,000 megawatts of solar capacity in the first three quarters of 2011, already surpassing the 2010 total of 887 megawatts, according to the report.
“The U.S. solar industry is on a roll, with unprecedented growth in 2011,” said Rhone Resch, president and CEO of SEIA. “Solar is now an economic force in dozens of states, creating jobs across America.”
Researchers said much of this growth is due to the Treasury Department’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.
