According to the new U.S. Solar Market Insight Report, California has become the first state in the country to exceed 10,000 MW of installed solar capacity. California has more solar assets than most nations, including the United Kingdom, France, Spain, Australia and Belgium. The report was conducted by GTM Research and supported by the Solar Energy Industries Association (SEIA).

During Q1 2015, California installed 718 MW of solar energy raising the state’s total capacity to 10,649 MW – enough to power nearly 2.6 million homes. The report went on to point out that California had big increases in Q1 across all solar sectors. Of the new capacity added, 231 MW were residential, 88 MW were commercial and 399 MW were utility scale. Together, these installations represented a $1.7 billion investment across the state in the first quarter alone, found the report.

“When it comes to creating clean energy jobs and protecting the environment, California is showing the world how to get the job done,” said Rhone Resch, SEIA president and CEO. “To put the state’s remarkable progress in some context, today California has 10 times more installed solar capacity than the entire nation had in 2007. We congratulate Gov. Brown, his administration, legislative leaders and the people of California for being at the forefront of America’s efforts to create a vibrant and growing clean energy economy.”

Resch said California’s explosive growth in solar is due, in large part, to stable and effective public policies such as the solar Investment Tax Credit (ITC), Renewable Portfolio Standards (RPS) and Net Energy Metering (NEM). Nationwide, solar remains the fastest-growing source of renewable energy in the United States.

The residential market also continued to flourish in Q1, with installed system prices dropping 4 percent year-over-year – and down nearly 50 percent since 2010. The upswing in residential installations is expected to continue in the foreseeable future, especially in light of a recent report by the California Energy Commission, which shows that more than a quarter of all new homes being built in Southern California are being constructed with solar energy systems. Presently, there are 2,226 solar companies at work throughout the state, employing 54,700 Californians.