Solarbuzz reports over 43 GW of PV projects in US pipeline
Nov 25, 2013 - The combined capacity of US photovoltaic (PV) projects that are in the development stage or under construction has now surpassed 43 GW, rising by 7% in the past 12 months, NPD Solarbuzz says in a market report.
The market research firm expects to see the US as the third most attractive PV market in 2014 after China and Japan.
Solar project developers in the US are turning towards smaller projects of below 30 MW in size as these have shorter planning phases and can quickly reach completion. For the past 12 months, the number of sub-30-MW projects in the pipeline has jumped by a third to over 2,100. Christine Beadle, analyst at NPD Solarbuzz, explained that with only three years to qualify for the full Investment Tax Credit (ITC) developers are being forced to transition more quickly from pre-planning and planning stages to under-construction and completion.
Still, as NPD Solarbuzz points out, the 10 largest PV projects in the US will result in over 5,000 MW of fresh solar capacity in the coming three years.