Global solar PV installations have grown rapidly in recent years, driven largely by plummeting panel prices. While the US solar market has grown significantly as well, growth has been concentrated in a few states. However, there are reasons for continued excitement and growth in the US market. Cost reductions are still expected, the market is moving beyond state incentives as solar grows in California without subsidies, and solar investment is becoming democratized with more options like leasing, community solar, and solar securities that allow more households to invest in solar energy.
12. WWW.GTMRESEARCH.COM
2) Moving Beyond State Incentives
12
California PV Installations, 1H 2013
Source: GTM Research/SEIA® U.S. Solar Market Insight TM
No State Incentives
13. WWW.GTMRESEARCH.COM
Who Can Invest in Solar: 1975-2008
Buy Rooftop Solar 2.5 Million HouseholdsBuy
3) The Democratization of Solar Investment
14. WWW.GTMRESEARCH.COM
Who Can Invest in Solar: 2009-2010
Buy Rooftop Solar,
Lease Rooftop Solar
Buy Rooftop Solar 2.5 Million Households
5.5 Million Households
Buy
Lease
3) The Democratization of Solar Investment
15. WWW.GTMRESEARCH.COM
Who Can Invest in Solar: 2011-2012
Buy Rooftop Solar,
Lease Rooftop Solar,
Invest in Community
Solar
Buy Rooftop Solar 2.5 Million Households
5.5 Million Households
11.1 Million Households
Buy
Lease
Lease
3) The Democratization of Solar Investment
16. WWW.GTMRESEARCH.COM
Who Can Invest in Solar: 2013-?
Buy Rooftop Solar,
Lease Rooftop Solar,
PACE Finance Solar,
Invest in Crowdfunded
Solar,
Invest in Community
Solar,
Buy Solar MLPs,
YieldCos, REITs,
Buy Solar Securities
Buy Rooftop Solar,
Lease Rooftop Solar,
Invest in Community
Solar
Buy Rooftop Solar 2.5 Million Households
5.5 Million Households
11.1 Million Households
73.0+ Million Individuals
Buy
Invest
Lease
Lease
3) The Democratization of Solar Investment
Let’s go through the basics – PV has been growing year-over-year by anywhere between 10% - 145%, with roughly a 50% average CAGR. Early growth was incredibly fast, in 2008 and 2010 growth doubledFrom a top-down view, solar looks unstoppable
Let’s go through the basics – PV has been growing year-over-year by anywhere between 10% - 145%, with roughly a 50% average CAGR. Early growth was incredibly fast, in 2008 and 2010 growth doubledFrom a top-down view, solar looks unstoppable
We have European FiT markets to thank for the very quick growthBy the end of 2012, nearly 70% of Demand resulted directly from a European FiT program
But regressions in various FiT program to combat the rising cost of solar to the state has significantly weakened market growthMany European markets “overheated” and FiTs were either reduced, removed altogether, or retroactively taxed/reduced.Examples: Spain, Czech Republic, Bulgaria, Belgium – Italy and Germany were the reasonable stories
7 states with some kind of community solar, active campaigns in 4 more. Huge program (500 MW or 1,000 MW in CA) – SB43 in front of CA legislature. Three crowdfunding companies.Imagine a world where an indidual can both invest in a solar array and earn a rate of return, while actually being the person who benefits from lower electricity prices as a result.
7 states with some kind of community solar, active campaigns in 4 more. Huge program (500 MW or 1,000 MW in CA) – SB43 in front of CA legislature. Three crowdfunding companies.Imagine a world where an indidual can both invest in a solar array and earn a rate of return, while actually being the person who benefits from lower electricity prices as a result.
7 states with some kind of community solar, active campaigns in 4 more. Huge program (500 MW or 1,000 MW in CA) – SB43 in front of CA legislature. Three crowdfunding companies.Imagine a world where an indidual can both invest in a solar array and earn a rate of return, while actually being the person who benefits from lower electricity prices as a result.
7 states with some kind of community solar, active campaigns in 4 more. Huge program (500 MW or 1,000 MW in CA) – SB43 in front of CA legislature. Three crowdfunding companies.Imagine a world where an indidual can both invest in a solar array and earn a rate of return, while actually being the person who benefits from lower electricity prices as a result.