GITNUX MARKETDATA REPORT 2024

Us Solar Industry Statistics

The US solar industry has experienced significant growth in recent years, with solar installations increasing and prices for solar energy continuing to decline.

With sources from: pv-tech.org, thesolarfoundation.org, nrel.gov, eia.gov and many more

Statistic 1

The US installed 8.4 gigawatts (GW) of solar PV (photovoltaic) capacity in Q3 2021.

Statistic 2

US solar installations will have surpassed 800,000 MW in 2021.

Statistic 3

In Q2 2021, the U.S. solar industry installed over 5 GWdc of solar capacity.

Statistic 4

The solar industry generated $18.7 billion of investment in the American economy in 2019.

Statistic 5

As of 2020, solar energy provides 2.3% of total U.S. electricity.

Statistic 6

The U.S. has enough solar installations to power 18.6 million homes.

Statistic 7

Solar jobs increased 167% over the past decade, adding 156,000 jobs.

Statistic 8

California has the most solar power capacity in the U.S., followed by North Carolina and Arizona.

Statistic 9

The price of solar has dropped by 70% over the last decade.

Statistic 10

42% of all new electric capacity added in the U.S. in 2020 was from solar.

Statistic 11

By 2050, solar energy could provide 27% of U.S. electricity generation.

Statistic 12

The U.S. solar market is expected to grow 4x over the next 10 years.

Statistic 13

Utility-scale installations make up 63% of U.S. solar capacity.

Statistic 14

US Solar Module Production increased by 7% in 2020.

Statistic 15

The U.S. solar industry employs more than 230,000 people.

Statistic 16

59% of residential solar installations are owned by third parties.

Statistic 17

U.S. solar installations will reach 419 GWdc by 2030.

Statistic 18

The installed PV capacity is forecasted to more than double over the next five years.

Statistic 19

The average payback period for a solar system in the US is 8 years.

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In this post, we explore key statistics highlighting the significant growth and impact of the U.S. solar industry. From the increasing capacity of solar installations to the expanding job market and the decreasing cost of solar energy, these numbers shed light on the industry’s promising future.

Statistic 1

"The US installed 8.4 gigawatts (GW) of solar PV (photovoltaic) capacity in Q3 2021."

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Statistic 2

"US solar installations will have surpassed 800,000 MW in 2021."

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Statistic 3

"In Q2 2021, the U.S. solar industry installed over 5 GWdc of solar capacity."

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Statistic 4

"The solar industry generated $18.7 billion of investment in the American economy in 2019."

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Statistic 5

"As of 2020, solar energy provides 2.3% of total U.S. electricity."

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Statistic 6

"The U.S. has enough solar installations to power 18.6 million homes."

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Statistic 7

"Solar jobs increased 167% over the past decade, adding 156,000 jobs."

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Statistic 8

"California has the most solar power capacity in the U.S., followed by North Carolina and Arizona."

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Statistic 9

"The price of solar has dropped by 70% over the last decade."

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Statistic 10

"42% of all new electric capacity added in the U.S. in 2020 was from solar."

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Statistic 11

"By 2050, solar energy could provide 27% of U.S. electricity generation."

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Statistic 12

"The U.S. solar market is expected to grow 4x over the next 10 years."

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Statistic 13

"Utility-scale installations make up 63% of U.S. solar capacity."

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Statistic 14

"US Solar Module Production increased by 7% in 2020."

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Statistic 15

"The U.S. solar industry employs more than 230,000 people."

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Statistic 16

"59% of residential solar installations are owned by third parties."

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Statistic 17

"U.S. solar installations will reach 419 GWdc by 2030."

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Statistic 18

"The installed PV capacity is forecasted to more than double over the next five years."

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Statistic 19

"The average payback period for a solar system in the US is 8 years."

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Interpretation

The statistics presented highlight the significant growth and impact of the U.S. solar industry. With impressive numbers such as 8.4 GW of solar PV capacity installed in Q3 2021, over 800,000 MW of solar installations expected in 2021, and 5 GWdc installed in Q2 2021, it is evident that solar energy is becoming a major player in the American energy landscape. The industry has shown strong economic prospects, with billions invested, substantial job growth, and a drastic decrease in solar prices. Projections indicate a continued upward trend in solar capacity, job opportunities, and electricity generation from solar sources. These statistics underscore the growing importance of solar energy as a sustainable and economically viable solution for the U.S. energy sector.

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