News Solartex
Advertisement
No Result
View All Result
No Result
View All Result
News Solartex
No Result
View All Result
Home Solar Contractors

US on track to add record breaking 33 GW of solar in 2023

admin by admin
December 7, 2023
in Solar Contractors
0
US on track to add record breaking 33 GW of solar in 2023
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Share

The U.S. solar industry added 6.5 GW of new electric generating capacity in Q3 2023, a 35% year-over-year increase as federal clean energy policies begin to take effect.

As a result of this growth, the United States is expected add a record 33 GW of solar capacity in 2023, according to the “U.S. Solar Market Insight Q4 2023” report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie. While economic challenges are beginning to affect the solar and storage industry, by 2050, solar is expected to be the largest source of generating capacity on the U.S. grid.

“Solar remains the fastest-growing energy source in the United States, and despite a difficult economic environment, this growth is expected to continue for years to come,” said Abigail Ross Hopper, SEIA president and CEO. “To maintain this forecasted growth, we must modernize regulations and reduce bureaucratic roadblocks to make it easier for clean energy companies to invest capital and create jobs.”

The residential solar segment installed a record 210,000 systems in Q3. However, changes to net energy metering policy in California and elevated interest rates across the U.S. are expected to lead to a brief decline in residential installs next year before growth resumes in 2025.

Elevated financing costs, transformer shortages and interconnection bottlenecks are also impacting the utility-scale segment, which saw its lowest level of new contracts signed in a quarter since 2018. However, improvements in the module supply chain have led to a record 12 GW of utility-scale deployment in the first nine months of 2023.

Solar accounts for 48% of all new electric generating capacity additions in the first three quarters of 2023, bringing total installed solar capacity in the United States to 161 GW across 4.7 million installations. By 2028, solar capacity in the United States is expected to reach 377 GW, enough to power more than 65 million homes.

“The U.S. solar industry is on a strong growth trajectory, with expectations of 55% growth this year and 10% growth in 2024,” said Michelle Davis, head of solar research at Wood Mackenzie and lead author of the report. “Growth is expected to be slower starting in 2026 as various challenges like interconnection constraints become more acute. It’s critical that the industry continue to innovate to maximize the value that solar brings to an increasingly complex grid. Interconnection reform, regulatory modernization, and increasing storage attachment rates will be key tools.”

California and Texas led the nation for new solar installations in Q3, but Indiana ranked third with 663 MW of new capacity as several large utility-scale projects came online. Fourteen states and Puerto Rico installed more than 100 MW of new solar capacity in Q3.

News item from SEIA

Source link

Previous Post

BYD Battery and Fronius Gen24 Sizing Guide – MC Electrical

Next Post

China’s Quest for Space-Based Solar Power: A Clean Energy Revolution

admin

admin

Next Post
China’s Quest for Space-Based Solar Power: A Clean Energy Revolution

China's Quest for Space-Based Solar Power: A Clean Energy Revolution

Stay Connected test

  • 23.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AIKO vs. Trina Solar Panels

AIKO vs. Trina Solar Panels

May 15, 2024
Solar Battery Covers | Cover My Inverter

Solar Battery Covers | Cover My Inverter

October 1, 2023
ADT Solar to close 22 of 38 branches

ADT Solar to close 22 of 38 branches

November 2, 2023
The 5 Best Solar Panels For Your Home or Business

The 5 Best Solar Panels For Your Home or Business

September 29, 2023
The 5 Best Solar Panels For Your Home or Business

The 5 Best Solar Panels For Your Home or Business

0
The Truth About German Made Solar Panels – Don’t Fall For The Scam!

The Truth About German Made Solar Panels – Don’t Fall For The Scam!

0
Electric Element vs Heat Pump Calculator – MC Electrical

Electric Element vs Heat Pump Calculator – MC Electrical

0
AEE Solar opens new PV equipment distribution center in California

AEE Solar opens new PV equipment distribution center in California

0
Iraq inches toward solar-powered future

Trump administration cancels massive Nevada solar power project

October 13, 2025
Victoria’s New Commercial Solar Rebates Set the Stage for Big Business Savings

Victoria’s New Commercial Solar Rebates Set the Stage for Big Business Savings

October 12, 2025
Powering the Future of Renewable Energy

Powering the Future of Renewable Energy

October 12, 2025
EPRI launches Interoperability Lab to advance DER integration

TotalEnergies completes 7-MW solar project on closed Maryland landfill

October 10, 2025

Recent News

Iraq inches toward solar-powered future

Trump administration cancels massive Nevada solar power project

October 13, 2025
Victoria’s New Commercial Solar Rebates Set the Stage for Big Business Savings

Victoria’s New Commercial Solar Rebates Set the Stage for Big Business Savings

October 12, 2025
Powering the Future of Renewable Energy

Powering the Future of Renewable Energy

October 12, 2025
EPRI launches Interoperability Lab to advance DER integration

TotalEnergies completes 7-MW solar project on closed Maryland landfill

October 10, 2025
News Solartex

©2024 SOLARTEX USA LLC

Navigate Site

Follow Us

No Result
View All Result
  • Contact Us
  • Home 1
  • Home 2
  • Home 3
  • Home 4
  • Home 5
  • Home 6
  • Privacy Policy
  • Sample Page
  • Term of Use

©2024 SOLARTEX USA LLC