A New No. 2 State for Utility PV: The Upside of Solar in Florida
Florida has installed 515 MWdc of utility PV, making it the 10th largest state by number of megawatts operating. However, Florida is expected to build 3.6 GWdc over the next five years, which would position it as the fourth-largest state market for utility PV in the U.S. Recent announcements from Jacksonville Electric Authority (JEA), Duke Energy Florida (DEF), and Tampa Electric Company (TECO) have added 1.3 GWdc of upside potential to GTM Research’s base-case outlook through 2022.
If these three utilities achieve their procurement targets, Florida will surpass North Carolina and Texas to become the second- largest state market for utility PV by 2022. This brief will look at Florida’s base-case forecast and examine the new upside potential added, as well as downside risks.