Jul 9, 2013 - The US installed 1.8 GW of photovoltaic (PV) systems in the first six months of 2013, surpassing 10 GW in cumulative solar capacity, market researcher NPD Solarbuzz said in a statement today.
According to Solarbuzz’s North America PV Market Quarterly report, the US PV market is to grow by an additional 80% and arrive at over 17 GW at end-2014. After passing the 10-GW mark, the country now ranks fourth globally in terms of PV installations, following Germany, Italy and China.
Solarbuzz pointed out that solar PV is among the fastest growing energy sources in the US for the last six years. Since 2007 it has achieved a compound annual growth rate of more than 50%. Since 2011 the major driver for the solar sector in the country are falling prices. In the US the average installed system price has plunged to USD 4.25 (EUR 3.30) per watt for residential and USD 3/watt for utility-scale projects from some USD 6/watt two years earlier.