The Solar Energy Industries Association (“SEIA”) issued a March 9th news release stating that the United States solar market added in 2016 more electric generating capacity than any other source of energy.
The organization also projects that over the next five years the United States solar market will triple in size.
SEIA reports that the United States installed 14,800 megawatts of solar photovoltaic (“PV”) in 2016. As a result, the country reached 42.4 gigawatts in total installed capacity. This is projected to be enough capacity to power 8.3 million American homes.
The report also included findings such as:
- On average, a new megawatt solar PV capacity came on-line every 32 minutes in the third quarter of 2016
- Between the first and third quarters of 2016, solar accounted for 39 percent of all new electric generating capacity brought on-line in the United States (therefore, ranking second to natural gas in terms of new capacity additions)
The SEIA describes itself as a national trade association representing all organizations that promote, manufacture, install and support the development of solar energy.