US installs 742 MW of PV power capacity in Q2 2012

Sep 10, 2012 - Newly-installed photovoltaic (PV) capacity in the US reached 742 MW in the second quarter, marking the second-highest figure, after the 791 MW added in the fourth quarter of 2011, according to a new report by GTM Research and Solar Energy Industries Association (SEIA).

The figure for the second quarter of 2012 does not include a 30-MW concentrated photovoltaic (CPV) project installed in the period.

The US Solar Market Insight: 2nd Quarter 2012 report, released today, notes that the total installed solar power capacity in the US is 5,700 MW at present, enough to power some 940,000 homes. A total of 3,200 MW of PV capacity is projected to be installed in the US in 2012, rising 71% on the year.

Newly-added utility-scale solar capacity in the US expanded by 116% on the year to 477 MW in the second quarter. The report expects the utility PV market to remain robust and estimates 1,100 MW capacity to be added by the end of the year, given the 3,400 MW of projects under construction and the 10% quarter-on-quarter drop in weighted US average system prices.

The residential solar market added 98.2 MW, rising for the fourth consecutive quarter. The average installed price of USD 5.64 (EUR 4.41) per watt of a third-party-owned system fell below the price of directly-owned solar systems, which is USD 5.84 per watt.

Meanwhile, the newly-installed solar systems in the non-residential segment decreased to 196 MW in the reported quarter from 291 MW in the previous quarter, according to the report.

Choose your newsletter by Renewables Now. Join for free!