The Solar Energy Industries Association (SEIA) and Wood Mackenzie, leading experts in the industry, predict that the United States will see an impressive addition of 33 GW of solar energy in 2023. This is a major milestone that demonstrates the growing dominance and importance of solar as a source of generating capacity. It is anticipated to be the largest source of generating capacity in the country by the year 2050.
December 8, 2023 Anne Fischer
Image: Rehan Syed, Unsplash
From pv magazine USA
The latest data from the US Solar Market Insight Q4 2023 report reveals that the third quarter of 2023 has set a record with an addition of 6.5 GW of new electric generating capacity in the United States. Additionally, there’s an expected 55% increase over 2022, which is slightly higher than what was forecasted last quarter. These impressive numbers are largely attributed to the US Inflation Reduction Act and other significant federal clean energy policies.
While solar capacity has been rapidly growing – installing an estimated 6.5 GW in the third quarter alone, the report also predicts upcoming economic challenges and a relatively modest 10% growth in 2024.
Abigail Ross Hopper, President and CEO of SEIA, expressed her optimism stating that, “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. 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.”
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The report highlights that solar energy accounted for nearly half (48%) of all new electric generating capacity additions in the first three quarters of 2023. This has brought the total installed solar capacity in the United States to an impressive 161 GW with a whopping 4.7 million installations.
If you want continue reading more about this exciting report, please visit our website at pv magazine USA.
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