Report: More Than Half of New Electric Capacity in 1H 2014 Was Solar
A recent report from GTM Research and the Solar Energy Association (SEIA) shows that 53 percent of new electric generation capacity created in the U.S. during the first half of 2014 was solar. Natural gas was the second largest source of new electricity with 30 percent of the market, followed by wind at 14 percent and a mix of other sources providing the balance. Total solar capacity installed during that period exceeded 2.6 GW.
Total operating photovoltaic (PV) capacity in the U.S. has now surpassed 15 GW, with more than half a million businesses and residences now relying on solar power for some or all of their electricity needs. The authors predict that the close of 2014 will mark “another banner year for solar in the U.S.” with projected solar installations exceeding 6.5 GW. This would represent an increase of 36 percent over 2013 and more than 300 percent over the market just three years ago.
The authors identified significant growth opportunities for commercial solar installations of less than 1MW as new financing mechanisms become available. Dynamic Energy specializes in financing and installing solar projects in the Mid-Atlantic and Northeast, and has completed numerous solar and Combined Heat and Power (CHP) projects in this region over the past year. If you’re interested in exploring the financing options for a solar PV installation at your business, contact us to talk about the possibilities.