According to a new report from the Solar Energy Industries Association (SEIA), the U.S. solar industry is on course for a new growth record in 2015.
The report found how solar photovoltaic installations now exceed 20 gigawatts in capacity and could surpass an unprecedented 7 gigawatts in 2015 alone across all segments. A gigawatt is equivalent to 1 billion watts and can power some 164,000 homes, according to the Solar Energy Industries Association (SEIA).
This year alone, records were set for residential rooftop solar installations, a category that saw 70 percent year-over-year growth, including 473 megawatts of residential solar capacity installations, or nearly half a gigawatt.
The report was revealed weeks after President Obama traveled to Las Vegas (a fast-paced solar market in the U.S.) to commend the industry as an icon of progress and technological innovation.
“Last year saw 6.2 gigawatts of solar photovoltaic installations, but the report is projecting a total of 7.7 gigawatts this year, as a large number of utility scale solar projects (the single biggest part of the market) come online, even as residential solar continues its rapid growth as well,” the article explains.