2014 Was the Biggest Year For Solar Power Ever

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We’ve noted here before the many ways in which solar power is blowing up in the United States: Adding tons of jobs, driving progressive policies, and attracting millions of dollars in investment from major corporations. It’s not slowing down anytime soon: New data from market analysis firm GTM Research finds that 2014 was solar’s biggest year ever, with 30 percent more photovoltaic installations installed than in 2013. Check it out:

GTM

Those numbers are even more impressive when you compare them to other types of energy sources. Even though solar still accounts for a small share of US electricity generation (less than 1 percent), last year it added nearly as many new megawatts to the grid as natural gas, which is quickly catching up on coal as the country’s primary energy source. (Coal, you can see, added almost nothing new in 2014.)

GTM

The report points to three chief reasons for the boom. First, costs are falling, not just for the panels themselves but for ancillary expenses like installation and financing, such that overall prices fell by 10 percent compared to 2013. Second, falling costs have allowed both large utility companies and small third-party solar installers to pursue new ways to bring solar to customers, including leasing panels and improved on-site energy storage. Third, federal incentives and regulations have been relatively stable in the last few years, while state incentives are generally improving, particularly in states like California and Nevada that have been leading the charge.

One more chart worth pointing out: Rooftop solar tends to get the most press because that’s where homeowners and solar companies get into tussles with big incumbent power companies and the state regulators that often side with them. And it’s true that a new home gets solar more often than a giant solar farm gets constructed. But on a sheer megawatt basis, utility-scale solar is still far and away the leading source, with a few notable projects coming online in 2014, like the Topaz Solar project in the California desert, the largest solar installation in the world.

GTM

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We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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