Hello, fellow solar enthusiasts!
I’ve got some fresh industry updates to discuss which are promising for the future of solar companies, and more importantly, for those looking to install solar panels for their home.
In 2023, solar photovoltaics accounted for 5.5% of total U.S. electricity generation! That’s right, more than 4,251 TWh of the energy we relied on last year came straight from the sun – showing a promising 17.5% increase from 2022.
This significant growth in solar power, despite a slight decrease from the previous year, can primarily be attributed to the 20.2 GW of solar capacity deployed in 2022. This uptake was slightly lower than the 23.6 GW deployed in 2021, due to the impacts of COVID-19 on the supply chain, and fluctuations in the demand for modules and availability of polysilicon. And oh, let’s not forget those ever-looming discussions around U.S. import tariffs.
I’m excited to add that, with an expected deployment of 35 GW in 2023 (a near 25% increase in total capacity), the share of solar in our energy mix is also projected to grow by about 25%. Now, that’s a solar array for home you can get excited about!
If these trends continue, and our electricity demand remains steady, I anticipate that solar, my dear readers, could account for 6.7% of all electricity generated this year. With an expected deployment of a record 53 GWdc of new capacity in 2024, increasing the nation’s solar power capacity by over 30%, we might be looking at solar covering 8.4% of all electricity generated in the country by 2025.
Now, let me make this bigger picture clearer: solar is well on its path to generate more than 10% of all our electricity in 2026. How electrifying is that!
In terms of the broader green energy landscape, emission-free electricity (comprising nuclear, wind, hydroelectric, solar PV, geothermal, and solar thermal) met 39.9% of all U.S. electricity demand for the year. Out of this, solar made up 5.5%, wind covered 10%, and nuclear took the lion’s share with 18.2%.
Interestingly, wind and solar together met 15.5% of all generation in the past twelve months – a 4.7% increase from 2022. This growth was mostly driven by solar power, as wind power slightly decreased in 2023.
Shining some light at the state level, California led the pack generating 27% of their electricity from solar. Not far behind were Nevada and Massachusetts, each producing over 20% of their electricity from solar.
A shoutout here to my readers in Massachusetts – your state obtained more than 15% of its electricity specifically from small-scale solar. Other states, including Hawaii, Rhode Island, Vermont, and even Washington D.C., also made noteworthy contributions – generating nearly, or just above 10% of their electricity from smaller solar installations.
Solar power is truly revolutionizing our energy landscape. The future looks sunny for solar panels for your home, making it a smart investment for clean, renewable energy. Stay tuned as I keep you posted on the journey of solar – the burgeoning star in our energy mix. Until next time, power on!
Original Articlehttps://pv-magazine-usa.com/2024/02/29/solar-generated-5-5-of-u-s-electricity-in-2023-a-17-5-increase/
