It’s been hot under the sun for America’s solar PV manufacturers, installers, and project developers. Industry watchers project a record fourth quarter for deployments, and an even hotter 2016 as purchasers and investors jump in before a 30% tax credit begins to wind down in 2017.
Third-quarter installations of nearly 1.4 MW solar photovoltaic maintained the level above a gigawatt for the eighth successive quarter, Greentech Media reported. And that may just be the start of an even stronger period for deployments.
“This past quarter marked the calm before the storm,” GTM Research Senior Solar Analyst Cory Honeyman told Greentech Media. “The 1-gigawatt mark for quarterly capacity additions will serve as a distant floor as project developers ramp up installations in the next five quarters before the planned step-down of the Tax Credit.”
The report anticipates that America’s total PV installations will nearly double over the next twelve months, reaching 41 gigawatts.