Solar Power Generation Grows As Nuclear Industry Stalls
The Texas solar market is on a wild upswing, adding 24 percent of the state’s new power capacity in Q2 2017. Solar panel installations grew 17-fold from the previous quarter according to a new industry report from GTM Research and the Solar Energy Industries Association (SEIA).
Highlights of the Texas Solar Industry in 2017
-Improved from 22 megawatts (MW) installed in Q1 2017 to 380 MW in Q2 2017.
-Gained traction from number 10 to number 7 highest state based on total installed solar power capacity.
-Projected to jump to number 2 state by 2022 with 5.3 GW of installed solar.
-Texas has 1,620 MW (1.6 GW) of total solar capacity based on data collected April-June 2017.
-Texas is home to 565 solar companies and over 9,000 solar employees.
Related Reading:Mega-What? An explanation of solar power capacity in America
This exciting Texas solar industry news follows a similar national trend; According to the latest SEIA report, the US solar market grew by 8% in Q2 2017. 22% of new power generating capacity from January to June 2017 was solar, second only to natural gas.
A sign of the times for future power generation
New nuclear power generation is slipping as the industry struggles to control costs. In July, South Carolina regulators halted the construction of two new nuke plants after updated cost reports showed they were likely to be years behind schedule and over $10 billion dollars over budget.
The nuclear forecast in Georgia is similar, with recent reports indicating construction costs will likely be $10.9 billion over budget and 5 years behind schedule. No new nuclear power plants have been built in at least 30 years, and the largest contractor, Westinghouse Electric Company, filed for bankruptcy in mid 2017.
U.S. solar power generation soars
Meanwhile, total installed solar power capacity in the U.S. is expected to nearly triple over the next five years, with GTM Research forecasting 12.4 GW of new solar being installed this year. By 2022, 31 states will have more than 100 MW annual solar markets – with 25 states being home to more than 1 GW of capacity – and more than 16 GW of solar PV capacity will be installed annually.
Join the Solar Power Revolution in Texas!
Electric utilities across the state are offering cash rebates for going solar in Texas. And with a 25-year warranty on your installation, adding solar panels to your home or business will allow you to save money on power costs for many, many years to come!
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