According to the latest edition of NPD Solarbuzz North America PV Markets Quarterly, the demand of solar PV power (photovoltaics) in the U.S. will increase with about 20% compared to 2012.
Much of the growth is thanks to California, Arizona, New Jersey and North Carolina – where 70% of the growth has taken place.
The report also predict that the growth in 2014 will put U.S. at above 5 GW of solar PV power, which in case the compound annual growth rate has been 70% since 2009.
Although a large part of the installations this year have been commercial and utility-based (because target levels of certain state mandates have to be met), we also need to recognize the massive growth in the residential market (booth rooftop and ground mounts) following the new and clever financial models:
“[…] residential demand is being driven by new third-party ownership models that allow homeowners and businesses to install PV systems with minimal upfront commitments.” explains Chris Sunsong, analyst at NPD Solarbuzz.
He is of course referring to the wide array of leasing options homeowners across the country now have access to. People can go solar without any upfront costs – and start saving from day 1. Although purchasing a solar system with cash will bring in more long-term savings than a solar lease, not every homeowner can afford it (or don`t have good enough credit for a well-suited loan).
Just a week ago, Affordable Solar opened up solar leasing for homeowners in New Mexico, which means that around 3 out of 4 American homes now have access to solar leasing programs.
For more information on solar panels and to see if you`re house is a good fit for solar, check out Energy Informative.
Image credit: NPD Solarbuzz
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