2018 US New PV Installed Capacity 10.6GW Market Will Rebound

- Mar 15, 2019-

US PV

US Solar Energy Industry Association (SEIA) and market research firm Wood Mackenzie Power&Renewables released on Wednesday the US solar market insights 2018 annual review report shows that the US installed solar photovoltaic installed capacity of 10.6 GW in 2018, compared to the 2017 installation level A slight decline, but the market is expected to rebound in the next few years.

The report also shows that the country's utility-scale solar PV (before the Trump administration imposes a 30% tariff on imported solar cells and components) will see more growth in the photovoltaic sector than originally predicted.

“The solar industry experienced many bumps in 2018, largely due to unnecessary tariffs imposed on solar cells and modules, but the report still found an optimistic situation,” said Abigail Ross Hopper, CEO and CEO of SEIA. “In the next five years, the total installed solar energy in the United States will more than double, demonstrating the flexibility and economic strength of solar energy. It is clear that the next decade will be a significant increase.”

The US residential market rebounded after a year, with the industry contracting by 15%, but by 7% in 2018. The US residential market has achieved modest growth for five consecutive quarters. In the fourth quarter of 2018, the industry recorded the largest quarterly growth in two years, with nearly 315,000 households increasing solar energy. On the other hand, the US non-residential sector fell by 8%, while the utility-scale sector also experienced a slight contraction, as 201 tariff uncertainty has a greater impact.

Overall, solar PV accounts for 29% of all new generations. Due to the surge in new natural gas projects earlier this year, its share is slightly lower than in 2017.

Austin Perea, senior solar analyst at Wood Mackenzie Power&Renewables, said: "After the rapid decline in residential solar power in 2017, growth in 2018 was driven by a diversified mix of country and regional installers. With more efficient sales channels The shift, national and regional installers exceeded expectations in California and Nevada, which contributed to the largest share of residential growth in 2018."

Despite mixed results in 2018, the Wood Mackenzie and SEIA reports predict that the forecast growth will be stronger from 2020 to 2022. It is estimated that the total installed capacity of solar photovoltaic power generation in the United States will increase by 14% in 2019, and the annual installed capacity will reach 15.8 megawatts (GW).

Original title: 2018 US new PV installed capacity 10.6 GW market will rebound