If you think you’ve been seeing more solar panels on houses around Virginia, you’re right. Residential rooftop solar here grew at the same rate as the national average in 2014.
Solar electric power accounted for almost a third of the nation’s new energy generating capacity last year. More than wind and coal for the second year in a row, according to the Solar Energy Industry Association. SEIA says residential continues to be the fastest growing market segment for solar in the U.S.
In Virginia it was up 31% last year, slightly more than the national average. The solar investment tax credit is one reason for the gain. It was enacted in 2006 and is set to expire in 2016. Virginia still ranks in the bottom half of installed solar generating capacity by states ranked 30th in the nation. GTM research, which conducted the study, expects the solar market to continue growing throughout 2015 due to falling solar costs and availability of low-cost capital.
The report also says, only natural gas constituted a greater share of new generating capacity in the U.S. than did solar in 2014.
