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Solar Market Will Grow Five Fold in 2015

Solar Market Will Grow Five Fold in 2015

3-kW-(1)The U.S. solar market is near a significant milestone. In GTM Research’s latest report, U.S. Community Solar Outlook 2015-2020, they forecast the solar market to increase five fold this year, with approximately 115 megawatts to be installed. By the year 2020, US community solar will be a yearly 0.5-gigawatt opportunity.

With a cumulative 66 megawatts installed through 2014, the U.S. residential solar market is just getting started. GTM Research however, has labeled it the most significant growth market in solar for the U.S. From 2014 to 2020, GTM Research projects United States residential solar to compound in annual growth at a rate of 59%.

Senior Solar Analyst Cory Honeyman says, “Looking ahead to 2020, the community solar opportunity is poised to become more geographically diversified, as developers ramp up service offerings to utilities in states without community solar legislation in place and as national rooftop solar companies enter the community solar scene.”

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