Quantcast
Environmental News for a Healthier Planet and Life

Solar Industry Experiences Record-Breaking Growth

Popular
Solar Industry Experiences Record-Breaking Growth

By Tom Kimbis, Solar Energy Industries Association

It seems like clockwork at this point. With each new Solar Market Insight (SMI) report, the solar industry sees more historic growth and this new report from GTM Research and the Solar Energy Industries Association (SEIA) is no different.

An array of solar panels supplies energy for necessities at Marine Corps Air Ground Combat Center Twentynine Palms, Calif.U.S. Marine Corps Pfc. Jeremiah Handeland

The solar industry installed 2,051 megawatts of PV in Q2 2016, bringing the total nationwide capacity to 31.6 gigawatts (see Figure 1.1 below) and making this quarter the best non-quarter 4 ever for the industry. There is now enough solar installed to power more than 6.2 million U.S. homes and reduce carbon emissions by 37 million metric tons each year.

A new solar installation was completed every 82 seconds in the first half of 2016, equaling more than 1,000 installs every day. This frequency is what will take the current total of 1.1 million solar systems, which took 40 years to reach, to 2 million systems by 2018.

The outlook for the rest of 2016 is just as eye-opening. The industry expects to add 13.9 GW of new capacity, which would be an 85 percent growth rate over 2015, solar's largest year ever. The U.S added 4 GW of capacity in the first half of 2016, but the industry will add nearly 10 GW in the final six months, which is 34 percent more than was installed in all of 2015, a record year.

The industry is growing faster than ever and here is what else we saw in this SMI report:

  • Solar prices fell across all market segments, with declines ranging from 2-7 percent (see Figure 2.3).
  • As a whole, the price of solar is 18 percent lower than it was one year ago and 63 percent lower than it was 5 years ago.
  • Solar represented 26 percent of all new electric generating capacity brought online in the first half of 2016.
  • There are now 1,162,000 individual solar systems installed in the U.S., including more than a million residential systems.
  • The utility-scale sector installed more than 1 GW for the third consecutive quarter and will install nearly 10 GW by the end of this year.
  • Thanks to strong growth by non-traditional markets like Texas and Utah, the residential sector experienced another record quarter, installing 650 MW.

The Q3 Solar Market Insight Report provides a clear vision of where the solar industry stands today and where we're headed in the future. By 2021, the industry is projected to nearly quadruple, while more than doubling its employment numbers and generating billions in investment. The state of solar is strong and the potential for future growth is even more encouraging.

Pexels

By Jessica Corbett

A new study is shedding light on just how much ice could be lost around Antarctica if the international community fails to urgently rein in planet-heating emissions, bolstering arguments for bolder climate policies.

The study, published Thursday in the journal Geophysical Research Letters, found that over a third of the area of all Antarctic ice shelves — including 67% of area on the Antarctic Peninsula — could be at risk of collapsing if global temperatures soar to 4°C above pre-industrial levels.

Read More Show Less
EcoWatch Daily Newsletter
Valley of the Gods in the heart of Bears Ears National Monument. Mint Images / Getty Images

By Sharon Buccino

This week, Secretary Haaland chose a visit to Bears Ears National Monument as her first trip as Interior Secretary. She is spending three days in Bluff, Utah, a small town just outside the monument, listening to representatives of the five tribes who first proposed its designation to President Obama in 2015. This is the same town where former Secretary Sally Jewell spent several hours at a public hearing in July 2016 before recommending the monument's designation to President Obama.

Read More Show Less
Trending
Pexels

By Anthony Richardson, Chhaya Chaudhary, David Schoeman, and Mark John Costello

The tropical water at the equator is renowned for having the richest diversity of marine life on Earth, with vibrant coral reefs and large aggregations of tunas, sea turtles, manta rays and whale sharks. The number of marine species naturally tapers off as you head towards the poles.

Read More Show Less
"Secrets of the Whales" is a new series that will start streaming on Disney+ on Earth Day. Disney+

In celebration of Earth Day, a star-studded cast is giving fans a rare glimpse into the secret lives of some of the planet's most majestic animals: whales. In "Secrets of the Whales," a four-part documentary series by renowned National Geographic Photographer and Explorer Brian Skerry and Executive Producer James Cameron, viewers plunge deep into the lives and worlds of five different whale species.

Read More Show Less
Spring is an excellent time to begin bird watching in earnest. Eugenio Marongiu / Cultura / Getty Images

The coronavirus has isolated many of us in our homes this year. We've been forced to slow down a little, maybe looking out our windows, becoming more in tune with the rhythms of our yards. Perhaps we've begun to notice more, like the birds hopping around in the bushes out back, wondering (maybe for the first time) what they are.

Read More Show Less