The U.S solar industry grew 43% year over year and installed a record 19.2 gigawatts of capacity in 2020, according to the Solar Energy Industries Association press release. Now, the industry is projected to install a cumulative 324 GWdc of new capacity to hit a total of 419 GWdc over the next decade.
The solar industry innovated and recovered after slowdowns in Q2 during the pandemic and is now continuing its trajectory as America’s leading source of new energy.
The forecast means that one in eight American homes will have solar.
By 2030, Wood McKenzie projects that the total operating solar fleet will more than quadruple.
SEIA president and CEO Abigail Ross Hopper still believe there is a long way to go to reach the goals in the Solar+ Decade.
The recent two-year extension of the investment tax credit is expected to drive greater solar adoption through 2025.
California, Texas, and Florida were the top three states for annual solar capacity additions for the second straight year, as Virginia came fourth.
In 2020, 27 states installed over 100 MWdc of new solar capacity, a new record.
There were 8 GWdc of new installations in Q4 2002, the largest quarterly increase in U.S solar history.
