more-arw search

Solar Installations Jump in Second Quarter

Solar Installations Jump in Second Quarter

Alternative energy continues to see improvement across North America as the number of installations jumped significantly during the second quarter.

U.S. solar installations increased 116 percent year-over-year during the second quarter as major utilities projects saw completion, Reuters

Alternative energy continues to see improvement across North America as the number of installations jumped significantly during the second quarter.

U.S. solar installations increased 116 percent year-over-year during the second quarter as major utilities projects saw completion, Reuters reported. A recent industry report shows that solar energy continues to provide growth for the renewable energy sector. The increased production has helped to lower the costs of solar panels significantly. Bloomberg reported that the average sale price fell 44 percent from the previous year.

The decreasing prices, prompted the Commerce Department to place a tariff on solar panels from China. Factories in the developing economy produce approximately 70 percent of the world's solar cells and economies of scale have allowed them to undercut prices of those made in the U.S. 

The U.S. now produces enough solar energy to power 1 million homes, according to a report by GTM Research. However, future production is likely to decrease as utility projects dwindle, Bloomberg reported. Many states have met federal requirements to increase renewable sources decreasing demand for large solar arrays.

Topics: