The US solar market grew by 76% last year and is expected to add over 5,000MW of new capacity in 2013, according to a report by GTM Research and the Solar Energy Industries Association.
Last year saw 3,313MW of new PV capacity added across the US, a record for the country, according to the US solar Market Insight: Year-in-Review 2012.
By the end of last year, there were 7,221 MW of PV and 546 MW of concentrating solar power (CSP) online in the US, enough to power 1.2 million homes.
California led the charge, becoming the first US state to install over 1GW of new solar in one year.
“2012 was a busy year in the US solar market,” said Shayle Kann, Vice President at GTM Research. “The market value of U.S. solar installations reached $11.5 billion in 2012, up from just $3.6 billion in 2009.
“Amidst this boom, the industry faced newly-imposed import tariffs on Chinese solar cells and ongoing consolidation in the manufacturing space. In 2013, we expect another strong year, driven in part by new mechanisms to increase the availability, and lower the cost, of solar project financing.”