US residential demand approaching 1 GW a year

Share

The outlook for the residential segment in the United States remains strong, with policymakers looking to reduce the regulatory burden for new installations and major downstream players focusing on continued installed system cost reduction.

NPD Solarbuzz said on Wednesday that it anticipated the residential segment will pass the 1 GW trailing 12-month (TTM) rate in early 2015; the market research group also predicts strong growth through 2016.

Residential demand in the United States continues to increase as solar PV systems become more attractive across more states. Demand growth is being driven by falling installed system prices as well as downstream business models that are bringing more financing and ownership options to the end-market, NPD Solarbuzz added.

Between the first quarter of 2012 and the fourth quarter of 2014, TTM residential PV demand more than doubled. Solar leasing, solar power purchase agreements (PPAs) and other business models, along with increasing financing options, are making solar more accessible to previously underserved customer segments, the company pointed out.

The residential segment is also experiencing fewer negative effects from the 2014 preliminary trade decisions, according to the report.

NPD Solarbuzz added that recent investments in U.S.-based manufacturing have largely been made by companies anticipating strong growth in the U.S. market, particularly in the higher average-selling-price-residential sector.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Solid-state batteries enter pilot production, costs expected to drastically drop

01 November 2024 The latest findings from Taipei-based intelligence provider TrendForce show that all-solid-state battery production volumes could have GWh levels by 2...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.