Solar, Sourcing Renewables - June 9, 2016
Report: Nonresidential solar market stabilizing with help from corporate buyers
After a period of inconsistency, the first quarter of 2016 brought an appearance of stabilization to the nonresidential solar market, at least in part helped by the growing interest from corporate buyers, according to a new report.
The solar market as a whole had a stellar start to the year, according to the U.S. Solar Market Insight report released June 9 from GTM Research and the Solar Energy Industries Association. Approximately 1,665 MW of solar PV were installed during the period from January to March, more than coal, natural gas and nuclear combined.
The 1,665 MW accounted for 64% of all new electric generating capacity brought online in the first quarter, according to the report. The nonresidential solar market, which has had periods of fits and starts, recorded installations of more than 300 MW for the second-straight quarter.
"Over the past six months, the non-residential PV segment has shown glimpses of a market that can grow across a more diverse set of project development opportunities,” Cory Honeyman, GTM Research’s associate director of U.S. Solar said in a news release about the report. "While a number of policy- and customer-driven bottlenecks continue to challenge the market, a handful of state policies established over the past half year should unlock new customer-sited and offsite development, with Fortune 500 corporate customers playing a key role in supporting the market’s rebound.”