The first quarter of 2024 marked a significant milestone for the U. solar industry, with installations rising by 21% year-over-year, according to S&P Global Commodity Insights data.
Each quarter, the National Renewable Energy Laboratory conducts the Quarterly Solar Industry Update, a presentation of technical trends within the solar industry.
How much solar power will the electric power sector add in 2025?
We expect U.S. utilities and independent power producers will add 26 gigawatts (GW) of solar capacity to the U.S. electric power sector in 2025 and 22 GW in 2026. Last year, the electric power sector added a record 37 GW of solar power capacity to the electric power sector, almost double 2023 solar capacity additions.
Why is solar power the fastest-growing source of new electricity generation?
Solar power is the fastest-growing source of new electricity generation in the United States because of falling costs, tax credits, and other policies that provide incentives for adding renewable energy sources. Developers of new power-generating capacity report a project's initial planned operational date on our Form EIA-860 survey.
•In calendar year 2022, solar generation was 4.1% in Delaware, 4.3% Idaho, and 4.8% in Texas—all these states broke the 5% barrier recently. Nationally, 5.3% of electricity was generated from solar—up from 4.8% during 2022.
Since the IRA's passage, more than 95 GW of manufacturing capacity have been added across the solar supply chain (from facilities announced pre- and post-IRA), including nearly 42 GW of new module capacity. U.S. c-Si manufacturers added significant capacity in the first half of 2024.
Will solar power increase in 2023?
Last year, the electric power sector added a record 37 GW of solar power capacity to the electric power sector, almost double 2023 solar capacity additions. We forecast wind capacity additions will increase by around 8 GW in 2025 and 9 GW in 2026, slight increases from the 7 GW added in 2024.