According to a report by U.S. Solar Market Insight, the US had a record first quarter with 723 MW of solar photovoltaics installed in Q1 2013. This represents a 33 percent increase over Q1 2012 and brings the cumulative US photovoltaic capacity to 7.9 gigawatts. This growth was led by residential installations, which experienced a 53% increase over the same period. Prices for residential systems fell below five dollars a watt marking a new low. We expect this increase in demand to continue and solar prices to continue to fall into the foreseeable future.