US solar companies installed just under 4GW of new photovoltaic (PV) capacity in the third quarter of 2020, a 9% increase on the previous quarter, according to latest analysis from Wood Mackenzie.
The utility-scale market was the primary driver of third quarter installations with 2.7GW of new capacity, representing 70% of all solar capacity brought online in the quarter.
The US Solar Market Insight Q4 2020 report, released by Wood Mackenzie and the Solar Energy Industries Association (SEIA), found solar accounts for 43% of all new electricity generating capacity additions through the third quarter of this year.
The report projects a record 19GW of new solar capacity installations in 2020, representing 43% year-over-year growth from 2019.
SEIA chief executive Abigail Ross said: “This report points to the incredible resilience of our companies and workers in the face of the pandemic and continued demand for clean, affordable electricity sources. “It also speaks to our ability to support economic growth, even in our darkest moments.
“While solar will continue to grow, the next administration and congress have an opportunity to help the solar industry reach its Solar+ Decade goals, creating hundreds of thousands of jobs and tackling the climate crisis.”
“Sun belt” states are leading the way on new capacity additions this year, with Texas and Florida both installing more than 2GW through the third quarter.
The utility-scale project pipeline has expanded to a record 69.2GW.
A total of 9.5GW (DC) of new utility PV power purchase agreements were announced in the third quarter.
Forecasts for 2021 to 2025 put total solar installations above 107GW (DC), a 10GW (DC) increase on the second quarter driven primarily by “healthy increases” to the utility-scale solar pipeline.