The U.S. market is forecast to install 4.4 GW of solar panels this year, a 33 percent increase from 2012, thanks in part by an expected surge in residential installations, according to a report released Tuesday.
The country added 723 MW of solar panels in the first quarter of 2013, up 33 percent from the first quarter of 2012, said the report by the Solar Energy Industries Association and GTM Research. The anticipated growth in 2013 would be slower that what took place in 2012, when the amount of new solar generation jumped 76
The growing popularity of solar leases, falling prices for solar panels and efforts to reduce the costs of marketing, sales and permitting, have steadily boosted the growth of the solar market in recent years. The pace of installation has quickened, in particular, in the residential market, which grew 53 percent from the first quarter of 2012 to the first quarter of 2013.
While federal, state and other local incentives still play a big role in the overall expansion of the solar market, their important will likely diminish as the incentive programs come to an end and solar companies, from manufacturers to installers, find ways to adjust and continue to grow their business.
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