US solar industry sees major growth in installations

New York Times : The Solar Energy Industries Association reports that new solar electrical capacity in the US for 2012 was up 76% over 2011. The US’s global market share of installations is now more than 10%. European market growth, however, has slowed. Much of the US growth is attributable to the falling prices of solar panels, a result of increased panel production in China. According to the trade association’s report, the average cost of a solar panel has dropped 60% since early 2011. At the end of 2012, panels were just 13% of the cost of an average residential solar system in the US. Two years earlier they were 32% of the cost. However, industrial installations have been the primary growth source, with more than double the capacity increase in 2012 over 2011.