Great News: U.S. Solar Costs Drop and PV Installations Surge
Great news coming out of SEIA’s highly anticipated US Solar Market Q1 2012 Insight Report.
Among some of the encouraging highlights, sure to make consumers interested in solar even more eager to move forward:
- The average cost of a completed PV system dropped by 17 percent in the first quarter of 2012 compared to the first quarter of 2011.
- Since the beginning of 2010, the average cost of a PV system has dropped by more than 30 percent.
- The average price of a solar panel has declined by 47% since Q1 2011.
In addition, the report showed much promise for the solar industry as a whole:
- The U.S. now has over 4,940 MW of installed solar electric capacity, enough to power more than 775,000 average American households.
- The residential PV market installed 94 MW in the first quarter of 2012, breaking the previous quarterly record set in the fourth quarter of 2011.
- The commercial PV market also set a new quarterly record for installations. The market grew 77% over the first quarter of 2011 to reach 289 MW.
To learn more about and discuss the state of the solar nation, join our June 27th #SolarChat from 2-3 p.m. EST. Expert panelists from the Solar Energy Industry Association and GTM research will lead a Twitter chat on the expanding solar market. RSVP here.