Utility-scale solar installations totaled 1,727 MW in the fourth quarter of 2017, more than double the 690 MW completed in the third quarter, but down by more than 60% from the end of 2016 when the industry was working through a boom in installations brought on by an expected reduction of the investment tax credit.
With elevated levels of the tax credit now extended through 2021, total annual installations fell from 8,169 MW in 2017 to 4,589 MW in 2018. Total installed utility-scale solar capacity in the U.S. surpassed 27,000 MW in 2017, according to the analysis conducted by S&P Global Market Intelligence.

California led the U.S. in installed capacity during the quarter, with 269 MW of capacity added. Virginia followed with 243 MW, and Texas was next with 211 MW.

Consolidated Edison Inc.'s 158-MW Texas-based plant Castle Gap Solar Project 1 (SP-TX-12-Phase B) was the largest project brought online. The plant's full capacity is being contracted by Luminant Generation Co. LLC.
The next-largest installed project was the 130-MW California Flats Solar 130, which First Solar Inc. sold to Capital Dynamics AG in August 2017. The plant sells its output to Apple Inc. under a 25-year contract, part of a continuing trend where corporations are purchasing renewable energy.

During the quarter, only one solar project announcement was made. That announced solar project was the Orangeburg Solar Farm, ultimately owned by Cypress Creek Holdings LLC. The 75-MW plant is slated to come online in Orangeburg County, S.C., in 2019.

While 6,675 MW of solar capacity were in the late stages of development as of Feb. 15, the industry's future had been in a state of uncertainty for months because of a trade case seeking protections for domestic solar manufacturers from foreign-made panels. The Trump administration approved 30% tariffs on imported solar cells and panels in January, putting downward pressure on solar installations, but allowing most projects to still go forward, according to most experts.
Of the total solar capacity in late stages of development, 2,255 MW were designated as under construction and 4,420 MW in advanced development. S&P Global Market Intelligence considers a solar project to be in advanced development when two of the following five criteria are met: financing is in place, a power purchase agreement is signed, panels are secured, required permits are approved or a contractor has signed on to the project.

The largest project in the advanced stages of development is the 300-MW Nevada 300 Solar Project (Techren Solar I-II) (El Dorado Valley Solar). The project is based in Clark County, Nev., and has an estimated construction cost of $720 million. Sierra Pacific Power Co. will purchase 200 MW of the plant's output under a 25-year contract that begins in January 2019, and Nevada Power Co. will purchase the remaining 100 MW under a 25-year agreement that begins in October 2018.
Owned by Capital Dynamics Holding AG, Mount Signal Solar Farm III (Imperial Valley Solar 3) is the second-largest in the advanced stages of development at 252 MW, and is slated to come online in October 2018. Southern California Edison Co. will purchase the plant's output when it comes online under a 20-year contract.

