U.S. Solar Market Insight

Updated June 8, 2023

The US solar industry installed 6.1 gigawatts-direct current (GWdc) of capacity in the first quarter of 2023, a 47% increase from Q1 2022 and a 19% decrease from Q4 2022. This was the best first quarter in the industry’s history, led by delayed utility-scale solar projects coming online.

Each segment had a record-setting first quarter, except for community solar, which faced interconnection and siting challenges in several key state markets. The residential segment set a first quarter record and would have likely set another overall quarterly record had it not been for intense rainstorms that hampered installation crews. Utility-scale solar installations were up 66% compared to the first quarter of 2022. The industry is still operating in a supply-constrained environment, but conditions are improving as module shipments are finally making their way through ports.

Overall, photovoltaic solar (PV) accounted for 54% of all new electricity-generating capacity additions in the first quarter of 2023.

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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.

Press Release

WASHINGTON D.C. — The U.S. solar industry installed 6.1 gigawatts (GW) of solar capacity and had its best first quarter in history, according to the US Solar Market Insight Q2 2023 report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.

The record quarter was driven in large part by supply chain challenges abating and delayed solar projects moving forward. Due in part to the strong first quarter numbers and a surge in demand from the Inflation Reduction Act (IRA), Wood Mackenzie expects the solar market to triple in size over the next five years, bringing total installed solar capacity to 378 GW by 2028. (Keep Reading)