North American Solar Installations Hit Quarterly Record, Likely to Continue Growth

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Researched by Industrial Info Resources (Sugar Land, Texas)--Installations for solar power generation in North America increased more in the third quarter of 2016 than in any other quarter on record, according to the Solar Energy Industries Association, with about 4,143 megawatts (MW) added. Fourth-quarter installations are expected to reach 4,800 MW. Within the U.S., the increase is attributed to the extension of the Investment Tax Credit (ITC), which expires in 2023.

Industrial Info is tracking 431 utility-scale solar projects in North America valued at $58.19 billion, with the top market regions being the West Coast, with 73 projects valued at $14.8 billion; the Rocky Mountains, with 43 projects valued at $13.2 billion; and Mexico, with 89 projects valued at $11.8 billion.

Solar irradiance trends and real-time monitoring and forecasting help solar plant operators obtain a clearer view of what the output will be over the short and long term. Irradiance, or the measure of the sun's brightness, can be affected by hazy skies, clouds, the season of the year, the time of day, atmospheric conditions, latitude and terrain.

This data can be used by plant operators to schedule maintenance outages during periods of overcast skies or rainy days, which helps to avoid downtime during high-irradiance days. Even a 1% deviation can come at a substantial cost in revenue.

Mexico is seen as the next opportunity for development in the solar market, due to ongoing reforms in the nation's energy market and changes in the electricity sector's legal and regulatory environment. Solar installations are expected to reach 6 gigawatts (GW) by 2020, even though the country is perhaps the world's first unsubsidized real solar market of size. Additionally, solar costs are dropping fast, and there will be more opportunities to bid into the market for developers of solar and other renewable energy projects.

Canada has set one of the world's loftiest goals: 100% of its energy generated from renewable resources by 2025. At this time, about 11% of the country's generation comes from renewable sources, accounting for 95 GW in 2015.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.