United States. The recent installed solar photovoltaic (PV) capacity reached a record 6,201 megawatts (MW) in 2014, growing by 30% over the 2013 total. Likewise, an additional 767 MW of concentrated solar energy (CSP) came into operation in the same period.
This information was provided by GTM Research and the Solar Energy Industries Association in their 2014 market research paper. Solar power accounted for 32% of the nation's new generation capacity in 2014, surpassing wind and coal for the second year in a row. Only natural gas constitutes a larger portion of new generation capacity.
In 2014, for the first time in history, each of the three major segments of the U.S. market – utility, commercial and residential – installed more than one gigawatt (GW) of PV.
The report indicates that the commercial segment in the US had also installed more than 1 GW in 2011, but has not shared the same success as the utility segment at scale. In 2014, the commercial segment had installed just over 1 GW, up 6% since 2013. The report notes: "Many factors have contributed to this trend, ranging from the adjusted economy to the difficulty in financing small commercial facilities." But GTM Research expects 2015 to be a rebound year for the commercial segment, highlighted by a resurgence in California.
The US residential segment (1.2 GW in 2014) celebrates its first time to exceed 1 GW. Residential remains the fastest growing market segment in the U.S. with 2014 marking three consecutive years of annual growth in excess of 50%.
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