“The fastest growth will come from the residential segment (49% year-over-year), followed by the utility segment (45%),” according to the SEIA report.
Looking ahead, political and regulatory factors will shape the direction of the market. For instance, the federal investment tax-credit, a major incentive for the U.S. solar market, will expire December 31, 2016 and will drop to 10% for commercial projects and zero for directly owned residential projects.
On the other hand, the solar industry could capitalize on greater demand from states as the country scrambles to new EPA standards for carbon emissions in the power sector under the Clean Air Act.
Guggenheim Solar ETF
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Max Chen contributed to this article.