Record Solar Installations Outpace Natural Gas in 2015

Reader Contribution by Josh Brewer

Confirming expectations, solar PV installations broke multiple records in 2015, according to figures released by GTM Research in advance of the U.S. Solar Market Insight Report. In total, the solar industry installed 7,286 megawatts (MW) of new capacity, which accounts for an impressive 17 percent annual growth. To put the solar industry’s growth in perspective, aggregate U.S. solar installations can currently produce more than 25 gigawatts (GW) of energy, which compares to just 2 GW in 2010. Investors and potential residential producers should take note, because with the surprise extension of U.S. tax credits in December, solar energy’s rise is sure to continue for the remainder of the decade.

Table: GTM Research / SEIAU.S. Solar Market Insight report

In a symbolic milestone, new solar installations surpassed natural gas installations for the first time, which is significant because politicians and the natural gas industry have long marketed the fossil fuel as a “bridge fuel” to renewable energy.Perhaps we’re closer to crossing that bridge than previously thought.

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