Installed solar capacity in the U.S. grew by 54 percent in 2014
Big increases in solar capacity seen in 2014
Installed solar capacity in the United States increased by more than 54 percent in 2014, according to a recently published report from the National Renewable Energy Laboratory (NREL).
Overall, solar electricity accounted for just under half — 48 percent — of total renewable electricity capacity installed in the U.S. in 2014, and cumulative installed solar capacity grew by more than 51 percent.
Still room to grow
Despite the aforementioned big percentage jumps in yearly installed renewable electricity capacity, solar still trails other renewable sources in overall production, so there is room to grow.
In 2014, solar photovoltaic (PV) and concentrating solar power (CSP) sources accounted for 6 percent of total renewable electricity generation, compared to about 46 percent for hydropower, 33 percent for wind sources, 12 percent for biomass sources and 3 percent for geothermal sources.
See also: Solar capacity expected to grow more than 100% from 2014 to 2016
Solar PV and CSP
On a global basis, solar PV and CSP are among the fastest growing renewable electricity
technologies, the NREL noted. The combined capacity of these two sources grew by more than 28 percent worldwide in 2014.
Global growth in renewable energy
It appears as if the world is ready to invest in renewable energy sources. According to the NREL report, new investments in renewable energy grew to $310 billion globally, which represents a 16 percent year-over-year from 2013 to 2014.
Source → National Renewable Energy Laboratory (NREL)