Skip to main content

U.S. Solar Market Insight

Share

Updated December 13, 2022

The U.S. installed 4.6 gigawatts (GWdc) of solar PV capacity in Q3 2022 to reach 135.7 GWdc of total installed capacity, enough to power 24 million American homes. Solar has accounted for 45% of all new electricity-generating capacity added in the U.S. through the first three quarters of the year. Residential solar had another record quarter with 1.57 GWdc installed. Utility-scale solar installations reached 2.5 GWdc, a 36% decrease over the same quarter last year, as the industry continued to weather supply chain challenges and trade disruptions. Despite these challenges, the passage of the Inflation Reduction Act (IRA) has created significant upside to the long-term solar forecasts, with 21% average annual growth forecasted for 2023 - 2027.

Read the Latest Report

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 U.S. added 4.6 gigawatts (GW) of new solar capacity in Q3 2022, a 17% decrease from the same quarter last year as trade barriers and ongoing supply chain constraints continue to slow America’s clean energy progress. These disruptions will cause a 23% decline in solar installations this year compared to 2021, according to the U.S. Solar Market Insight Q4 2022 report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, a Verisk business. (Keep Reading)

More Industry Data

For more facts and figures about the U.S. solar industry, including historical data and future projections, click here

Solar Numbers at Your Fingertips

Need a quick summary of all the key facts and figures about the U.S. solar industry? Download SEIA's Solar Data Cheat Sheet