U.S. solar market growth slows this year as projects pushed back

FILE PHOTO: An array of solar panels is seen in the desert near Victorville, California, U.S. March 28, 2018. REUTERS/Lucy Nicholson/File Photo

The Solar Energy Industries Association forecast 17% growth this year to 12.6 gigawatts in its quarterly joint report with consultants Wood Mackenzie Power & Renewables. That’s down from a forecast of 25% growth earlier this year. The pipeline of contracted large-scale installations for utilities stands at a record 37.9 gigawatts, or roughly half the level of solar currently installed in the United States, the report said.

The cost of solar energy systems fell in all markets, the report said. Compared with last year, residential system prices are 6.8% lower while utility systems are between 10 percent and 11.4% cheaper.

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