Press "Enter" to skip to content

Growth in the Residential Solar PV in the last decade

The decade from 2010- 2020 has been remarkable for the Residential Solar PV as there have been over 2 million residential solar panels in the United States that have been installed. This has largely been sported by the Investment Tax credit which has been given however that is just one part of the equation

Although, the ITC has been providing the foundational support across segments to the solar industry, a few states have been going a little further in providing the incentives which are in-state to the homeowners who purchase the solar industry products.

 This also means that till date most of the growth in the residential sector has been restricted and concentrated in only a few markets of the countries which are offering more incentives. Keeping in mind the installations cumulatively, there are only five states which are accounting for most of the installed capacity in the nation.

The states have been the big five states which are Arizona, New York, Massachusetts, California and New Jersey.

However while the story of the growth in the last 10 years have been centered in and around the support of the federal level and state level policies which subsidize the rooftop retrofit solar and the next decade of the growth is going to have a lot more diverse drivers of demand as the tax credit goes down and the markets reach a level of saturation.

The third quarter data of 2019 has released in the report which came out last week and there is a trend with emerged as in the data there was not even one market in Northeast states which ranked in the top five states for the residential placements.

David Moran
David Moran Subscriber
EDITOR-IN-CHIEF At Market News Magazine

With an experience of 5 years and holding the position of Editor-In-Chief, David Moran is among the best assets we have. Having a professional writing skill set, he deals with writing reports and articles linked to the business world. He holds the responsibility to write everything relating to mergers & acquisitions, agreements & deals, latest news, recent trends, and so on. Being a fitness and health freak, David indulges into a few sports activities in free time.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *