U.S. Solar Installations Hit A New Record High

Solar continues to grow at an impressive pace. 

Earlier this week, the Solar Energy Industries Association (SEIA) and GTM Research released the latest U.S. Solar Market Insight Report, which sheds light on major solar developments from the third quarter of 2016.

According to the analysis, the U.S. installed 4,143 megawatts (MW) of solar power in Q3 2016, an impressive 99 percent increase over Q2 2016 and 191 increase over Q3 2015, making it the largest quarter ever for the U.S. solar installations. Altogether, the U.S. now boasts 35.8 gigawatts (GW) of total installed solar capacity. 

Source: Solar Market Insight Report 2016 Q4, SEIA/GTM Research

Among some of the report's other key findings:

• Between Q1 and Q3 2016, solar accounted for 39 percent of all new U.S. electric generating capacity, trailing only natural gas.

• As an update to previous forecasts, GTM Research now projects that 14.1 GW of new installations will come online in 2016, up 88 percent over 2015.

• Large corporate customers have stepped up the procurement of offsite solar projects, which has largely been driven by Fortune 500 customers with large industrial loads or near-term renewable energy procurement targets.

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• Renewable Energy Demand Is on the Rise with Corporate Buyers

The latest U.S. Solar Market Insight report come hot on the heels of an analysis by Advanced Energy Economy (AEE) showing that corporate buyers are increasingly investing in renewable energy and sustainability. The study found that 71 percent of Fortune 100 companies and 43 percent of Fortune 500 companies have now set renewable energy or sustainability targets.

Direct Energy Business is proud to help 78 percent of Fortune 100 companies — and more than 240,000 businesses across North America — meet their energy goals. For businesses looking to join the growing solar trend, Direct Energy Business offers a number of commercial solar power options. Last year, we unveiled a 1.2 megawatt rooftop solar project with H-E-B and SolarCity in Weslaco, Texas. More recently, we announced an innovative 13.6 megawatt remote solar project with Johns Hopkins University in Maryland and a new plan to install solar power systems at Whole Foods Market locations throughout the United States.  

Learn how solar power can potentially benefit your business.