Overall, 2012 is shaping up to be another banner year for the U.S. solar market.

Green_Sun_SmallThe U.S. Solar Market Insight: Q1 2012, a report to be released by GTM Research and the Solar Energy Industries Association (SEIA®), finds that growth in solar photovoltaics (PV) markets in the U.S. is maintaining its breakneck pace from 2011.

Led by strong growth in the commercial market segment, the U.S. installed a record of 506 megawatts (MW) over the first three months of this year, more than any other first quarter on record.

“The U.S. solar industry continues to lead the U.S. out of difficult economic times,” said Rhone Resch, president and CEO of SEIA. “Installations have grown by 85 percent in the last year. This growth is coming from consumers who are turning to solar to reduce their energy costs. In states across the country, Americans are waking up to the realization that putting solar on your home or business is a better investment than the stock market.”

Overall, 2012 is shaping up to be another banner year for the U.S. solar market. The U.S. Solar Market Insight report forecasts total 2012 annual solar PV installations to exceed 3,200 megawatts, 75 percent greater than last year’s total and 15 percent higher than previous annual forecasts for 2012.

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Source: Solar Energy Industries Association