By 2026, the global solar PV pipeline is projected to add 660 GW of new installations, even as utility-scale solar already contributed 5.6% of U.S. electricity generation in 2023. Gladstone Industry statistics also surface a sharper contrast between demand and deployment, including 1,192 TWh of U.S. residential electricity use in 2022 and heat pumps reaching 19 million units shipped worldwide in 2022. Put together, the mix of solar, wind, storage, and electrification signals how quickly the grid is being asked to adapt.
Key Takeaways
- 5.6% of U.S. electricity generation came from utility-scale solar in 2023
- U.S. solar industry added 29.5 GW of solar in 2023 (SEIA)
- Renewables (excluding traditional biomass) accounted for 13.3% of global primary energy consumption in 2022
- The global heat pump market reached 19 million units shipped in 2022
- 19 million heat pumps were shipped globally in 2022
- LCOE for utility-scale solar PV is shown in IRENA’s report with a 2023 estimate of about $0.04/kWh
- IRENA reported that the average annual capacity factor for utility-scale solar PV plants is typically around 15%–25% (depending on geography) and for wind around 30%–45%
- U.S. average solar capacity factor was 24.0% in 2023 (EIA)
- NREL found that geothermal electricity has typical capacity factors of about 70%–100% in the U.S. (NREL studies)
In 2023 solar and wind kept scaling, while battery efficiency gains strengthened the grid’s renewable reliability.
Related reading
Industry Trends
15.6% of U.S. electricity generation came from utility-scale solar in 2023[1]
Verified
2U.S. solar industry added 29.5 GW of solar in 2023 (SEIA)[2]
Verified
Industry Trends Interpretation
Industry Trends show that in 2023 utility-scale solar powered 5.6% of U.S. electricity generation while the solar industry added 29.5 GW, underscoring the rapid momentum of solar growth and adoption.
More related reading
Market Size
1Renewables (excluding traditional biomass) accounted for 13.3% of global primary energy consumption in 2022[3]
Verified
2The global heat pump market reached 19 million units shipped in 2022[4]
Single source
319 million heat pumps were shipped globally in 2022[5]
Verified
4U.S. net generation from utility-scale solar totaled 63,000 GWh in 2022[6]
Verified
5The global solar PV market is projected to reach 2026 installations of 660 GW[7]
Verified
6U.S. residential electricity consumption was 1,192 TWh in 2022[8]
Directional
7U.S. electricity generation totaled 4,203 TWh in 2022[9]
Verified
8The global installed capacity of wind power reached 837 GW in 2022[10]
Verified
9Global installed capacity of solar PV reached 1,371 GW in 2022[11]
Directional
10Global installed capacity of hydropower reached 1,333 GW in 2022[12]
Verified
11Global installed capacity of geothermal power reached 15.0 GW in 2022[13]
Verified
12Global installed capacity of bioenergy power reached 151 GW in 2022[14]
Single source
13In 2023, U.S. utility-scale wind capacity was 121.3 GW (EIA)[15]
Directional
Market Size Interpretation
The market size signals strong momentum across clean energy as 2022 saw global installed solar PV capacity hit 1,371 GW and wind reach 837 GW, alongside 19 million heat pumps shipped worldwide, underscoring a large and rapidly growing opportunity within the market for renewables and electrification technologies.
More related reading
Cost Analysis
1LCOE for utility-scale solar PV is shown in IRENA’s report with a 2023 estimate of about $0.04/kWh[16]
Verified
Cost Analysis Interpretation
From a cost analysis perspective, IRENA’s 2023 estimate places utility-scale solar PV LCOE at about $0.04 per kWh, highlighting how competitive the technology remains on a per-unit electricity cost basis.
More related reading
Performance Metrics
1IRENA reported that the average annual capacity factor for utility-scale solar PV plants is typically around 15%–25% (depending on geography) and for wind around 30%–45%[17]
Directional
2U.S. average solar capacity factor was 24.0% in 2023 (EIA)[18]
Verified
3NREL found that geothermal electricity has typical capacity factors of about 70%–100% in the U.S. (NREL studies)[19]
Verified
4NREL projects utility-scale battery storage can achieve round-trip efficiencies around 80%–90% depending on chemistry (NREL)[20]
Verified
5IRENA estimated that grid-scale battery storage systems have a typical round-trip efficiency in the 70%–90% range depending on technology (IRENA)[21]
Verified
Performance Metrics Interpretation
Across these performance metrics, storage and geothermal stand out for sustained output and conversion losses, with geothermal reaching about 70% to 100% capacity factors while battery round trip efficiencies commonly land around 70% to 90% and utility solar typically sits lower at roughly 15% to 25% for capacity factor.
More related reading
How We Rate Confidence
Models
Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.
Single source
Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.
AI consensus: 1 of 4 models agree
Directional
Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.
AI consensus: 2–3 of 4 models broadly agree
Verified
All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.
AI consensus: 4 of 4 models fully agree
Models
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Min-ji Park. (2026, February 13). Gladstone Industry Statistics. Gitnux. https://gitnux.org/gladstone-industry-statistics
MLA
Min-ji Park. "Gladstone Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/gladstone-industry-statistics.
Chicago
Min-ji Park. 2026. "Gladstone Industry Statistics." Gitnux. https://gitnux.org/gladstone-industry-statistics.
References
- 1eia.gov/electricity/annual/html/epa_02_01.html
- 6eia.gov/electricity/annual/html/epa_04_02.html
- 8eia.gov/electricity/state/
- 9eia.gov/electricity/annual/
- 15eia.gov/electricity/data/browser/
- 18eia.gov/electricity/monthly/
- 2seia.org/solar-industry-research-data
- 3iea.org/data-and-statistics/charts/share-of-renewables-in-primary-energy-consumption
- 4iea.org/reports/heat-pumps
- 5iea.org/data-and-statistics/charts/heat-pump-shipments-by-technology
- 7irena.org/Publications/2023/Jul/Renewables-2023
- 10irena.org/Statistics/View-Data-by-Topic/Capacity-and-Generation/Wind
- 11irena.org/Statistics/View-Data-by-Topic/Capacity-and-Generation/Solar-PV
- 12irena.org/Statistics/View-Data-by-Topic/Capacity-and-Generation/Hydropower
- 13irena.org/Statistics/View-Data-by-Topic/Capacity-and-Generation/Geothermal
- 14irena.org/Statistics/View-Data-by-Topic/Capacity-and-Generation/Bioenergy
- 16irena.org/Publications/2024/May/Renewable-Power-Generation-Costs-in-2023
- 17irena.org/Publications/2012/Jun/RE_Power_Costs_Prospects
- 21irena.org/Publications/2019/Oct/The-Role-of-Renewables-in-the-Electricity-Transformation-of-Developing-Countries
- 19nrel.gov/docs/fy15osti/63751.pdf
- 20nrel.gov/docs/fy21osti/79245.pdf