U.S. Solar Market Insight
Updated September 14, 2021
The U.S. installed 5.7 gigawatts (GWdc) of solar PV capacity in Q2 2021 to reach 108.7 GWdc of total installed capacity, enough to power 18.9 million American homes. The US officially surpassed 3 million installations across all market segments, the vast majority of which are residential systems. Before the investment tax credit (ITC) fully phases down under current law, the solar industry will continue to break annual installation records every year for the next three years.
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.
WASHINGTON, D.C. and HOUSTON, TX – Supply chain constraints are leading to price increases across every solar market segment, despite the addition of 5.7 gigawatts (GWdc) of solar capacity in Q2 2021, according to the U.S. Solar Market Insight report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, a Verisk business (Nasdaq: VRSK). This is the first time that solar prices have increased quarter-over-quarter and year-over-year in every market segment since Wood Mackenzie began modeling system price data in 2014. Prices increased the most for the utility-scale segment at about 6% year-over-year. Many solar developers have sufficient inventory for 2021 projects but will begin to see price increases in 2022, the report says. (Keep reading)
For more facts and figures about the U.S. solar industry, including historical data and future projections, click here.
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