GTM Research released an article citing that the US solar market grew 95% in 2016 reaching a record 14,626 megawats of solar PC installed. This breaks the previous record from 2015 (a 95% increase) of 7,493 megawatts installed. According to GTM research and the Solar Energy Industries Association (SEIA) in a preview of their upcoming U.S. Solar Market Insight report, due to be released March 9th.
The graphic below displays a trend that combines Residential, Non-Residential and Utility installations (US) from 2010 – 2016.
The GTM article also cites that U.S. Solar ranked number one in regards to the the addition of new electric generating capacity on an annual basis. In other words, for new capacity additions in 2016, across all fuel types, solar accounted for 39%. This growth has led to more than 260, 000 Americans now employed by solar according to SEIA. In 2016 the Utility-scale segment saw the most growth and the most megawatts installed. 145% growth from 2015. Source: GTM/SEIA.
South Carolina and North Carolina Market Outlook
Yes Solar Solutions is seeing growth and opportunities for Residential, Farm and Commercial solar installations in both North Carolina and South Carolina. The Charleston, Mt. Pleasant, Summerville, Columbia and North Charleston, SC market has enticing tax benefits that drive growth. In addition to the 30% federal tax, the SC state solar tax credit offers a one-time incentive in the form of a 25% toward the total cost of South Carolina solar panel installation. In North Carolina a taxpayer may claim the federal tax credit of 30% of qualified expenditures. Read more about the North Carolina Solar Benefits.
In addition to tax benefits, solar growth in North Carolina and South Carolina is driven by consumers’ environmental responsibility and response to climate change. Energy Independence is also a driver as customers continually seek stable and reliable pricing for their energy. To find out more contact Yes Solar Solutions!