BloombergNEF: Residential Solar Installations Continue at Record Pace


Global demand for home solar has soared this year, according to recent Bloomberg New Energy Finance (BloombergNEF) research. 

BloombergNEF reported that U.S. residential solar installations were 21% higher during the first seven months of this year than the same period in 2019. BloombergNEF attributed the demand to Americans on pandemic lockdown becoming more conscious of household energy costs while at the same time going on a home improvement spree.

Along with solar demand, the U.S. just shattered its record for energy storage. According to Wood Mackenzie’s latest U.S. Energy Storage Monitor report, the third quarter broke the record for new deployment of storage across the nation – obliterating the second quarter (which previously held the record) by 240%. Although utility-scale systems led the way, the residential segment also had another record quarter.

With surging demand for residential solar and energy storage solutions, five of the most active companies are: NeoVolta, Tesla, Jinko Solar, Canadian Solar and Array Technologies.

For a detailed description of the five most active solar and energy storage companies, click here.

Photo: NeoVolta’s Homebuilders web page

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