In the first quarter of 2024, the US solar sector installed 11.8 GW of new solar capacity, bringing the country’s total to 200 GW. This is according to the latter “Understanding the US solar energy market” report by SEIA and Wood Mackenzie.
The report also publishes the final figures for 2023; the country added more than 40 GW of new solar capacity last year. Wood Mackenzie expects the US solar industry to install an additional 40 GW by 2024.
The massive growth in the utility market is driving record solar deployment rates as the segment added nearly 10 GW of new capacity in the first quarter. Florida and Texas saw strong utility-scale growth and led all states in new solar capacity in the first quarter. Other markets such as New Mexico and Ohio also had strong quarters, with 686 and 546 MW respectively.
“The U.S. solar industry continues to show strength in terms of deployments,” said Michelle Davis, head of Global Solar at Wood Mackenzie and lead author of the report. “At the same time, the solar industry faces a number of challenges to its continued growth, including labor availability, limitations of high-voltage equipment and continued trade policy uncertainty.”
The residential solar segment is feeling the full weight of California’s policy changes, experiencing its worst quarter in two years, with installations of just 1.3 GW – down 25% year-over-year and 18% quarter-over-quarter. The commercial (434 MW) and community solar markets (279 MW) remained stable year-on-year.
