US solar market takes a hit as experts expect decline in demand

Latest joint GTM Research and SEIA report indicates short term challenges ahead for the US solar market.

According to the 2nd Quarter (Q2) US Solar Market Insight Report from SEIA, and GTM Research, 2.3GW of new solar PV capacity was added in the second quarter this year. This represented an 8 percent year-over-year gain from Q2 2016 with 2.044GW installed.

Utilities added 1.4GW of the 2.044GW (58 percent). GTM said this was the seventh straight quarter where utilities put more than 1GW of new capacity. GTM forecasts 8.1 GW this year.

Utility solar power has increased 17 percent from last year.

Volunteer procurement, mostly popular within southeastern US states have been the key driver for new solar PV capacity, making up 59 percent of all new utility procurement during the first half of 2017.

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