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Home / Solar Power / 119% growth for Solar Power industry in 2016

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A couple of interesting things about this report:

  1. Utility Scale solar is going to dominate. Pretty damn cool. This value will mean that in 2016 the total volume of solar power installed will grow by about 65% (16GW/25GW) – to a grand total of 41GW. This will meet about 3% of total US electricity requirements.
  2. Note how consistent, and increasingly large, the residential solar power market is. About 70-75% of this market is owned by third party lease companies like Solar City. In 2016 – this market segment will be roughly 2.5-3GW, priced at about $3.50/W. This means $8.7-10.5B in revenue. The year on year growth in the Residential Sector was 66%. READ THAT AGAIN!!! I know that seems small compared to the total industry growth – but the total industry growth is being bumped by the aberration of utility scale projects and a Federal Tax Credit. Utility returns to earth next year – residential keeps growing, its fourth year with greater than 50% growth in a row.

 

By John Fitzgerald Weaver

John Fitzgerald Weaver is a solar developer; known digitally as the 'Commercial Solar Guy.' As a project developer and installer, he’s sold and managed 50+ solar projects, valued over $25 million, ranging in size from 5kW to 1500kW. He’s been involved in many aspects of the solar supply chain –- as a company founder, developer, project manager, manufacturer, permit runner, salesman, contractor and financier. In his free time he tries to get away and clear his mind by climbing mountains, or more regularly by enjoying an IPA or scotch, and really loves the strange connection between politics, energy, finance, and environment in the energy world.

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