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Solar Growth Continued at a Record Pace in 2016

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2016 was another record-breaking year for solar. 

Recently, the Solar Energy Industries Association (SEIA) and GTM Research released the 2016 U.S. Solar Market Insight Report, which sheds light on the major solar developments from last year. 

According to the analysis, the U.S. market installed a total of 14,762 megawatts (MW) of solar in 2016, nearly double the capacity installed in 2015. Additionally, solar also led the way in new electric generating capacity additions for the first-time ever at 39 percent.

Source: Solar Market Insight Report 2016

Among some of the report's key findings and projections:

  • On average, a new megawatt of solar capacity came online every 36 minutes in 2016.

  • Last year, a record 22 states added more than 100 MW of solar capacity.

  • On the C&I side, the segment experienced its highest growth since 2012.

  • GTM Research projects that 13.2 gigawatts (GW) of new solar installations will come online in 2017, a 10 percent decrease from 2016. 

  • Total installed U.S. solar capacity is expected to almost triple in the next five years. By 2022, more than 18 GW of solar will be installed each year. 

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The report follows another recent analysis by Advanced Energy Economy (AEE) that finds that corporate buyers are increasingly investing in renewable energy and sustainability. The study found tha71 percent of Fortune 100 companies and 43 percent of Fortune 500 companies have now set renewable energy or sustainability targets.

While federal solar investment tax credits are still in place, it's a great time for businesses to invest in solar. For businesses looking to join the growing solar trend, Direct Energy Business offers a number of beneficial commercial solar power options. We recently unveiled a 1.2 megawatt rooftop solar project with H-E-B and SolarCity in Weslaco, Texas. 

More recently, we partnered on 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 your business can join the growing solar trend. 

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Posted: March 16, 2017