VSLR - Solar Industry Grows 23% in 2019 But Clouds Are on the Horizon
Choosing to follow the sun, the United States strongly turned to the solar industry in 2019. According to a new report from Wood Mackenzie/SEIA U.S. Solar Market Insight, the solar market installed 13.3 gigawatts (GW) of solar capacity in 2019, representing a 23% increase over 2018. In fact, approximately 40% of all new electric generating capacity in the U.S. came from solar in 2019 -- the largest annual percentage in the industry's history.
When expanding the time horizon even further, the solar industry's growth becomes even more glaring. Whereas cumulative photovoltaic (PV) operating capacity was 1 GW at the end of 2009, it now stands at over 76 GW. Industry experts expect growth will extend into 2020, but the global efforts to contain the spread of the novel coronavirus may curtail the robust growth that analysts have predicted.
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