US On Track to Install 3 GW of Solar PV in 2012

New figures from from SEIA show that the US is on track to install roughly 3 gigawatts of solar photovoltaics in 2012, should the level of growth show in the first two quarters of the year continue.

In Q2 of this year solar PV installations are 116% of those from the same period in 2011, with 742 megawatts installed. The majority of those came from utility-scale projects, which led to 45% growth in the second quarter of the year. Had the growth in utility-scale projects not occurred the US solar PV market would've actually declined 18%.

On a state-by-state basis, California saw the greatest amount of new installations (217 MW), followed by Arizona (173 MW), and New Jersey (103 MW).

Which brings us to the important point Think Progress makes:

Contrary to Republican-led talking points, federal support for solar power is decidedly yielding positive results. Three of the large projects increasing utility solar PV all received federal loan guarantees.

Because the loan guarantee program supported mostly generation projects with long-term contracts, analysis has found that it will cost taxpayers $2 billion less than initially expected.

US On Track to Install 3 GW of Solar PV in 2012
Growth in utility-scale installations, supported in part by federal loan guarantees, means that the US market grew 45% in Q2 instead of declining.

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