A record 1,855 MW of photovoltaic (PV) capacity in 2011 have been installed in 2011, more than the double of the previous annual record of 887 MW set in 2010. The record amount of solar installations is enough to power more than 370,000 homes, and represents a 109 percent growth rate.
2011 is the first year the US solar market has topped 1 GW of solar PV installations in a single year – and the US solar market is valued at over US$8.4bn. The cumulative solar PV capacity in the US reached almost 4 GW by the end of 2011. The growth was spurred in part by declining installed solar PV system prices, which fell 20% last year on the back of lower component costs, improved installation efficiency, expanded financing options, and a shift toward larger systems nationwide.
Source: SEIA