Solar Energy Industries Association and GTM Research are out this morning with new numbers on how the industry fared in the U.S. in 2016. The short answer? Quite well.
- For the first time last year, solar was the largest source of new electric generating capacity additions (at 39%.)
- The industry added almost 14,800 megawatts of new capacity, which almost doubles the amount added in 2015. Overall, the report forecasts that installed solar capacity is expected to almost triple over the next five years.
- Utility solar projects—the stuff that feeds into the grid—were the main driver of the 2016 boom. Residential solar PV saw a slowdown in growth compared to the prior year.