Residential Installs Exceed 1 GW

March 16, 2015
Solar Panel Installation Photographer: Daniel Acker/Bloomberg

Demand for U.S. solar power increased 30 percent in 2014 as residential installations surpassed 1 gigawatt for the first time, according to the Solar Energy Industries Association and GTM Research.

The residential market remained the fastest-growing segment, gaining at least 50 percent in each of the past three years, as cheaper panels and growing consumer awareness of climate change spurred interest among homeowners. The market is swelling as demand climbs in new regions, said Cory Honeyman, a solar analyst with Boston-based GTM.

Developers installed a record 6.2 gigawatts of panels last year, including about 1.2 gigawatts atop homes, the Washington-based trade group said. About 3.9 gigawatts of utility-scale and 1 gigawatt of commercial solar power were added.