U.S. Solar Market Insight
Updated March 9, 2023
The U.S. installed 20.2 gigawatts (GWdc) of solar PV capacity in 2022 to reach 142.3 GWdc of total installed capacity, enough to power 25 million American homes. Solar accounted for 50% of all new electricity-generating capacity added in the U.S. in 2022, the largest annual share in the industry's history and the fourth consecutive year that solar was the top technology with new electric capacity installations. Residential solar had a record year with nearly 6 GWdc of installations, representing 40% growth over 2021. The other market segments saw downturns in 2022 due to significant supply chain challenges; utility-scale solar in particular fell 31% over the previous year. Despite these challenges, the passage of the Inflation Reduction Act (IRA) has created significant upside to the long-term solar forecasts. Over the next 10 years, the industry will grow five times larger than it is today, to a total solar fleet of more than 700 GWdc by 2033.
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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. and HOUSTON, TX — The United States added 20.2 gigawatts (GW) of new solar capacity in 2022, a 16% decrease from 2021. This was due in large part to an investigation into new anti-circumvention tariffs by the U.S. Department of Commerce, as well as equipment detainments by Customs and Border Protection under the Uyghur Forced Labor Prevention Act. According to the U.S. Solar Market Insight 2022 Year in Review released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, utility-scale installations fell by 31% year-over-year to 11.8 GW, the sector’s lowest total since before the COVID-19 pandemic. Commercial and community solar installations also fell by 6% and 16%, respectively. Backlogs for connecting new solar projects to the electric grid continue to limit deployment in each market segment. (Keep Reading)
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