More than 1,200 MW of utility-scale solar projects started operations during the first quarter of 2018, with NextEra Energy Inc. making up about half of the installations.
U.S. utility-scale solar capacity went up by 1,214 MW in the first three months of the year reflecting a 27% greater increase than same period in 2017. The additions boosted the country's total capacity to just over 29,000 MW, according to the analysis conducted by S&P Global Market Intelligence.

Consolidated Edison Inc.'s Panoche Valley Solar Farm was the largest solar energy project completed in the U.S. during the first quarter of 2018, with a name-plate capacity of 240 MW. Of the ten largest solar power projects completed during the three-month period, eight of those projects came from NextEra, making up 600 MW of utility-scale installations.
NextEra CFO John Ketchum said during the company's April 24 earnings call that its utility subsidiary Florida Power & Light Co. commissioned solar projects through a mechanism in its four-year rate agreement that has allowed the company to add more solar projects as long as they are cost-effective.
"The eight solar plants that entered service in 2018 are projected to generate more than $100 million in total savings for FPL customers during their operating lifetime," he told analysts.

The additions came during the same quarter that President Donald Trump sent a shock wave through the sector, signing off on tariffs of 30% on imported solar cells and panels. The duties sparked outrage from trade groups and other companies, who feared the tariffs would unravel the sector's growth. However, while some projects have been canceled, most remain in the works.
Swami Venkataraman, a solar energy analyst for Moody's, said in a March 2 interview with S&P Global Market Intelligence that he does not see the tariffs creating long-term distress on the U.S. solar market. Some companies also bought imported panels ahead of the duties to avoid increased costs; for example, NextEra's Ketchum said on April 24 that the company has already purchased panels for 2018 and 2019 and has "now secured a good part of '20."
"I feel very good about the mitigation steps that we've taken on solar panels," he said. "I don't see that as being an impediment to growth for our portfolio going forward based on what we've been able to secure."

Amid the anxiety around the duties, utilities and developers announced 721 MW of new solar projects. The largest plant is the Flint Mine Solar Project, co-owned by Hunt Companies Inc., Amber Infrastructure Limited and Hudson Energy Enterprises. The project was one of 26 renewable energy facilities in New York that Gov. Andrew Cuomo awarded $1.4 billion in March, part of the state's aggressive efforts to have 50% of its electricity come from clean energy by 2030.

The project pipeline for U.S. solar power facilities also grew, particularly for projects that are scheduled to be commissioned in 2019 and 2020. Developers have 2,166 MW of utility-scale solar under construction, with another 4,388 MW in advanced development. A total of roughly 24,000 MW of solar is in the development pipeline through 2022.
More than 8,000 MW of solar projects scheduled to be completed in 2019 are in active development, with 7,148 MW of those projects in early and advanced development. For 2020, there are 7,409 MW of solar projects in active development.

Of the 11 largest utility-scale projects in advanced development or under construction, all the solar facilities are located in the West and Southwest. 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.

