US to become third-largest PV market in 201425. November 2013 | Global PV markets, Industry & Suppliers, Markets & Trends | By: Ian Clover
A PV pipeline in excess of 43 GW represents 7% growth in a year, propelling the U.S. to third-place in 2014 installation projections, behind China and Japan, reports NPD Solarbuzz.
The U.S. solar industry will become the third-largest in the world next year as a growing appetite for PV pushes the country's pipeline of planned projects to 43 GW, finds the latest United States Deal Tracker report from NPD Solarbuzz.
This figure represents growth of 7% in the space of 12 months, and means that 2014 will see the U.S. become the third-largest market for PV installations, just behind China and Japan. Previously, the report finds, the U.S.'s PV pipeline was dominated by projects of 100 MW or more, whereas current and future growth is being driven by smaller projects less than 30 MW in size.
"The increase in new solar PV projects being planned or under construction is driving double-digit annual growth forecasts for PV adoption within the United States," said NPD Solarbuzz senior analyst, Michael Barker. "Large-scale PV projects exceeding 20 MW continue to dominate the pipeline, in terms of installed capacity, stimulated by state-based renewable portfolio mandates. Projects of all sizes have become increasingly viable, due to declines in solar PV system pricing in the past year."
More than half – 63.1% - of the 43 GW of U.S. PV projects in the pipeline are currently classed as ‘planned‘, with 23.9% in the pre-planning stage and 8.5% being installed. Transitioning through the stages of development – from pre-planning right up to installed status – has been fast-tracked among many developers due to a 2017 deadline to qualify for full Investment Tax Credits (ITC) of 30%.
According to NPD Solarbuzz, this deadline has catalyzed a wider appetite for smaller PV projects that can be completed in shorter timescales. "With just three years remaining until the full tax credit incentive rate declines, solar PV project developers in the U.S. are now planning to complete projects, or have a significant proportion under construction, prior to the 2017 deadline," said NPD Solarbuzz analyst Christine Beadle.
Projects with capacity below 30 MW have blossomed in recent months, increasing by 33% to now number approximately 2,100 – representing nearly 50% of the entire U.S. pipeline.
At the upper end, the ten largest PV projects in the U.S. will account for more than 5 GW of solar capacity to be installed over the next three years, which include the Mount Signal Solar project, Copper Mountain and Calexico.
Michael Basmaj | http://energysage.com
Monday, 25.11.2013 17:36
Third place isn't bad, but we could definitely do better. The more companies and individuals that take the initiative to go solar, the closer we will get to being the global leader. Change starts at home. Make the first step by comparing solar options on EnergySage - http://bit.ly/148yg0y
Choose between a digital and print subscription from pv magazine publisher Solarpraxis AG’s online shop!
- 3521 views
- 3414 views
- 3227 views
- 3178 views
- 2941 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!