US sun marketplace to nearly double in 2016, led by utilities

sun installations soared 34 percentage from the prior year, whilst non-residential systems, for commercial and industrial customers, rose 36 percent.

the us sun electricity marketplace will almost double new installations this year to fourteen.five gigawatts, led by means of utility tasks that builders scrambled to bring on line in anticipation of the expiration of a key federal tax credit score, in keeping with a file posted on Thursday.

sun installations rose 24 percentage within the first zone, accounting for sixty four percent of all new US electric powered generating ability at some stage in the duration, the report by way of GTM research stated.

application-scale initiatives had been rushed thru last year on the expectation that a key federal tax credit would expire on the stop of 2016. That credit score, but, changed into prolonged through five years on the end of remaining yr. The extension will spur greater than 20 GW of extra solar capacity by means of 2021, GTM stated, even though the utility-scale market is anticipated to agreement next year and in 2018.

Utilities in many markets are purchasing sun as a hedge against unstable herbal gasoline charges, the record said, pointing to the sharp drop inside the fee of application-scale sun in recent years.

universal prices for all solar systems fell eight.8 percentage all through the sector.

Residential solar installations soared 34 percent from the prior 12 months, whilst non-residential systems, for commercial and commercial clients, rose 36 percent.

California changed into the top sun market in the sector, accompanied with the aid of North Carolina, Massachusetts, Nevada and new york.

GTM's quarterly file is published in partnership with the sun enterprise exchange organization, the solar strength Industries association.