2018 will be the first triple-digit year for the global solar market — but it will also have some bumps.
After a record-breaking year for the solar market, the total global installed base of operational PV systems surpassed 300 gigawatts.
Led by a record-breaking Q4, US energy storage deployments totaled 336MWh in 2016, doubling the megawatt-hours deployed in 2015.
U.S. solar market nearly doubled its annual record, topping out at 14,626 megawatts of solar PV installed in 2016.
Report shows 4,143MW solar PV installed in US in Q3 2016, at rate of 1MW every 32 minutes. Q4 on track to beat record again.
The US deployed 41.2MW of energy storage in Q2 2016, and is on pace for another historic year.
According to GTM Research’s latest edition of its quarterly Global Solar Demand Monitor, global solar installations are expected to grow by 43 percent this year, increasing to a total of 73 gigawatts.
Commercial energy storage economics are attractive today in seven U.S. states. Could grow to 19 states by 2021 according to report.
In the first quarter of 2016, the solar industry in the US added more new capacity than coal, natural gas and nuclear combined.
The Department of Energy’s ambitious SunShot target of $1.00 per watt by the end of this decade could well be achieved.