Modern solar energy development in the United States dates back to 1954 when scientists at Bell Laboratories patented the first silicon solar cell. Since then, solar energy has become an increasingly vital resource for the country, and the U.S. is now the second
. Solar photovoltaics, the technology that converts light from the sun directly into electricity, accounts for the vast majority of
in the United States. Owing to
and government policies aimed at decarbonizing the U.S. energy sector, the solar energy sector in the United States has seen significant growth in recent years. Various actors, from key businesses to state governments, are driving growth in an industry that shows no signs of slowing down.
Growth of the U.S. solar PV industry
Cumulative solar energy capacity in the U.S. saw uninterrupted growth between 2012 and 2023, with total capacity reaching almost 140 gigawatts in the latter year. Solar PV accounted for most of this capacity, while concentrated solar power (CSP) making up a much smaller share. In fact, the United States ranked second only to China in
newly installed solar PV capacity in 2023. This growth in solar capacity has translated into a steep growth in
net solar power generation over the past 15 years, with figures peaking in 2023 at nearly 165 terawatt hours. The
U.S. electric power sector's solar PV energy generation is projected to increase over 10-fold until 2050.
Key players in a dynamic industry
Following the merger of Swinerton Renewable Energy and SOLV, Inc. in 2021, the rebranded SOLV Energy has become one of the
leading solar contractors in the U.S. based on cumulative installed capacity. In a market now dominated by Chinese firms,
First Solar is still among the worldwide leaders in solar PV production and is the largest US-based solar PV manufacturer. Lastly, even governments are encouraging growth in the U.S. solar sector. Since introduction of the
Inflation Reduction Act (IRA) in 2022, forecasts show sunnier prospects for solar. Driven partly by progressive policies such as the California Solar Mandate, which requires newly built single-family and multi-family homes to include solar panels,
California is by far the leading state in solar PV capacity.
U.S. solar PV outlook
Solar is expected to be the leading energy source in terms of new capacity installations in the next years. Between 2024 and 2030,
planned solar P.V. capacity additions in the U.S. surpass 84 gigawatts. In comparison, newly installed natural gas capacity is forecast to be around 17.8 gigawatts. By 2030, the U.S. is expected to reach a
cumulative solar PV capacity of some 340 gigawatts.
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