U.S. Solar Market Insight
Updated March 13, 2019
The U.S. installed 10.6 gigawatts (GW) of solar PV capacity in 2018 to reach 64.2 gigawatts (GW) of total installed capacity, enough to power 12.3 million American homes. This represents a 2% year-over-year decrease. Total installed U.S. PV capacity is expected to more than double over the next five years - by 2024, more than 15 GW of PV capacity will be installed annually.
Click here to read the Executive Summary of the latest Solar Market Insight Report. The full report includes all the data and analysis from our Executive Summary plus incisive, state-level breakdowns of installations, costs, manufacturing and demand projections. To learn more about the Solar Market Insight Report series, click here.
BOSTON Mass. and WASHINGTON D.C. (March 13, 2019) — For the third year in a row, the U.S. solar industry installed double-digit gigawatts (GW) of solar photovoltaic (PV) capacity, with 10.6 GW coming online in 2018. The amount was a 2 percent decrease from 2017. However, the forecast shows the market rebounding in the years ahead, according to the newly released U.S. Solar Market Insight 2018 Year-in-Review Report from Wood Mackenzie Power & Renewables and the Solar Energy Industries Association (SEIA). (Keep reading)
For more facts and figures about the U.S. solar industry, including historical data and future projections, click here.
- Click to Tweet: NEW: The U.S. #solar industry installed 10.6 GW of new PV capacity in 2018, marking the third year in a row of double-digit gigawatt growth! #SolarIsNow seia.org/smi
- Click to Tweet: According to @SEIA/@WM_PowerRenew, #solar accounted for 29% of all new electric generating capacity additions in 2018, second only to natural gas and the 6th straight year solar has been #1 or #2! #SolarIsNow seia.org/smi
- Click to Tweet: Brand new data from @SEIA/@WM_PowerRenew shows the U.S. #solar industry added 4.2 GW of new electric generating capacity in Q4 2018, the second-largest quarter in history for solar in the U.S.! Check out more solar data at seia.org/smi #SolarIsNow
- Click to Tweet: The residential #solar market had a strong year, growing 7% from 2017. In total, 314,600 American homes installed solar in 2018! #SolarIsNow seia.org/smi
- Click to Tweet: The U.S. #solar market will more than double over the next five years, with 71 GW of new capacity expected by 2024! Check out all the new solar data from @SEIA & @WM_PowerRenew at seia.org/smi #SolarIsNow
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