U.S. Solar Jumps 30% as Residential Installs Exceed 1 Gigawatt – Bloomberg Business

by Justin Doom

Photographer: Daniel Acker/Bloomberg

(Bloomberg) — Demand for U.S. solar power increased 30 percent in 2014 as residential installations for the first time surpassed 1 gigawatt, according to the Solar Energy Industries Association and GTM Research.

Developers installed a record 6.2 gigawatts of panels last year, including about 1.2 gigawatts atop homes, the Washington-based trade group said today in a statement. About 3.9 gigawatts of utility-scale and 1 gigawatt of commercial solar power were added.

The residential market remained the fastest-growing segment, gaining at least 50 percent in each of the past three years, as cheaper panels and growing consumer awareness of climate change spurred interest among homeowners. The market is swelling as demand climbs in new regions, said Cory Honeyman, a solar analyst with Boston-based GTM.

For the entire story on Bloomberg Business

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