10 solar stats to know from the U.S. Solar Market Insight Report 2017

The U.S. Solar Market Insight Report 2017 Year-in-Review from GTM Research and the Solar Energy Industries Association (SEIA) dropped today. Here are the 10 numbers to know.

10.6 GW

That’s the new PV capacity in 2017, led by strong growth in the corporate and community solar segments. This is the second year in a row that solar additions hit double-digits. But…

30 percent

That’s the decrease year-over-year from 2016’s record-shattering 15 GW. The year-over-year downturn for the utility segment in 2017 was the big culprit here, and was largely expected, due to the massive influx of installations rushed in, anticipating the expiration of the Investment Tax Credit.

2017 solar installations

40 percent

If you skip 2016, viewing it for the anomaly it may have been, solar additions in 2017 grew 40 percent growth over 2015’s installation total.

28 percent

That’s the year-over-year growth in the non-residential market segment in 2017 – its fourth straight year of annual growth. Last year in particular saw an “explosion” in the community solar market, led by Minnesota and Massachusetts.

16 percent

That’s the percentage decrease in the residential sector year over year. This contraction was driven by weakness in California and major Northeast markets, which continue to feel the impact of pullback from certain national installers that have shifted away from rapid-expansion strategies. Both residential and utility-scale installations fell on an annual basis for the first time since GTM Research and SEIA began publishing the report in 2010.

2

That’s the number of states in the top 10 markets for residential solar that showed growth. Insert sad trombone noise here.

25

Of the remaining 44 states tracked in the report, 25 saw year-over-year growth in annual residential PV installations with several states climbing up in the rankings. Florida managed to break into the top 10 states for the first time since 2011, jumping to the No. 10 spot for cumulative solar capacity installed. Over the last year, South Carolina also saw big gains, moving up 9 spots in the new rankings to No. 18 in the U.S. California and North Carolina remain the two largest solar states after adding the most and second-most capacity in 2017, respectively.

solar projects by sector 2017

FIGURE: U.S. PV Installation Forecast, 2010-2023E. Source: GTM Research / SEIA U.S. Solar Market Insight Report

13 percent

That’s how much GTM Research lowered its base-case forecast for 2018-2022 because of the federal and state policy changes and market dynamics.

 

15 GW.

Even after that drop, GTM still sees that much solar being installed on an annual basis by 2023 and expects capacity to double over the next five years.

10.6 GW

That is the GTM Research forecast for new PV installations in 2018.

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