United States sets new record with 50 GW of installed solar capacity

In 2024, the United States added 50 gigawatts (GW) of solar power to its grid, marking the largest single-year addition of capacity by any energy technology over the past two decades.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

In 2024, the United States installed 50 gigawatts (GW) of additional solar capacity, accounting for 84% of all new electricity-generating capacities integrated into the national grid during the year. The majority of this growth was attributable to large-scale solar power projects and energy storage systems. This unprecedented level of deployment sets a new benchmark for annual capacity additions, significantly surpassing the totals registered by any other energy technology in the previous two decades. The record was facilitated by favorable fiscal incentives and policy support at the federal level, though potential regulatory shifts could influence future development.

Développement industriel domestique

U.S. domestic solar module manufacturing tripled in 2024, allowing local manufacturers to satisfy almost all national demand for photovoltaic panels. The country also resumed domestic solar cell production, strengthening the national photovoltaic supply chain and reducing dependency on imported components. Current domestic manufacturing capacities are sufficient to meet virtually the entire national demand for photovoltaic components. The U.S. aims to reach a total installed solar capacity of 739 GW by 2035, contingent upon stability in existing policies, tax incentives, and authorization frameworks.

Despite this growth, the sector remains sensitive to regulatory and fiscal changes. Projections show that potential policy shifts, particularly in federal tax credits or permitting processes, could significantly impact market expansion.

Risques financiers et impacts territoriaux

According to the most pessimistic scenario, modifications or reductions in federal incentives and authorization processes could result in a decrease of 130 GW in projected solar installations over the next decade. Such a scenario would represent a cumulative investment loss of nearly $250 billion over that period. The states of Texas, Indiana, and Florida, among the fastest-growing solar markets, would be disproportionately affected by such a downturn.

Texas, notably, added 11.6 GW of solar capacity in 2024, maintaining its leadership in national deployment figures. A potential market slowdown could cause the state to lose more than $50 billion in anticipated investments within ten years. In total, 21 states set annual solar capacity records in 2024, with 13 states surpassing the significant milestone of one gigawatt each.

Évolutions variables par segments de marché

The utility-scale solar segment saw substantial growth of 33%, reaching a total of 41.4 GW installed capacity in 2024. Additionally, community solar installations increased by 35%, and commercial solar rose by 8%. Conversely, residential solar installations experienced their lowest annual performance since 2021, due in large part to state-level policy adjustments and increased interest rates. Industry forecasts nevertheless anticipate recovery in residential installations over the coming decade, provided policy conditions remain supportive.

The varied performance across solar market segments illustrates distinct sensitivities to economic factors and regulatory environments, underscoring the importance for stakeholders to monitor developments closely in coming years.

Aspen Power has finalised the acquisition of two community solar projects totalling over 1 MWdc in New Jersey, developed by Ecogy Energy, with construction expected to begin shortly.
French developer Tenergie has started work on a ground-mounted solar plant at a former quarry, with expected annual output of 7.6 GWh from 2026.
Octopus Energy strengthens its presence in Spain with three new energy projects totalling 600 MW, powering 2.3 million households and accelerating the expansion of its European renewables portfolio.
VSB Italy has obtained authorisation to build a 6.2 MW agrivoltaic plant in Città della Pieve, combining solar power generation and agricultural cultivation on 10.6 hectares.
Ameren Missouri announces a 250 MW solar project to power 44,000 homes, reducing delays and costs through strategic development on company-owned land.
Verso Energy has inaugurated an experimental solar power plant in Outarville, testing the integration of photovoltaic panels across three hectares of large-scale crops with a 90% self-consumption rate.
Independent power producer R.Power is selling a 440MW ready-to-build photovoltaic portfolio in Poland, as political uncertainties drive a wave of divestments in the national renewable energy market.
Grenergy has finalised the sale of the fourth phase of its hybrid solar-storage project in Chile to CVC DIF, valued at up to $475mn, while retaining operation and maintenance for five years.
Q ENERGY secures financing for 252 MW of solar projects in Spain, marking its first independent power producer operation on the Iberian Peninsula.
Norwegian group Scatec has signed a power sales agreement with BTG Pactual for its first solar project in Colombia, representing an estimated $110mn investment.
New solar installations rose 64% year-on-year, driven by China, which accounted for more than two-thirds of global deployed capacity.
Virya Energy invests EUR2mn in a photovoltaic plant at the Oncopole park-and-ride in Toulouse, marking a 30-year partnership with Tisséo to strengthen the city’s energy self-consumption.
ACWA Power has signed an agreement with the Syrian Ministry of Energy to assess up to 2,500 MW of solar, wind and storage projects, along with a technical audit of the national grid and existing infrastructure.
GreenYellow is installing several photovoltaic plants and an energy storage system on Altarea's logistics platforms in Bollène and Puceul, through a 30-year PPA contract fully financed by the company.
Ascent Solar Technologies has signed an agreement with Star Catcher Industries to enhance in-orbit power generation by combining lightweight photovoltaic technology with wireless energy transmission.
NextWave Energy Monitoring integrated 529 megawatts of Cenergy solar projects into its PVPulse platform, including the largest 300 MW photovoltaic plant equipped with its monitoring system.
Solar panel imports into Africa reached 15,032 MW in one year, setting a record and marking an expansion beyond South Africa, according to the energy research organisation Ember.
Ferrovial will launch a 250 MW solar plant in Texas for $355mn, expanding its US energy portfolio and creating around 300 jobs during the construction phase.
The 4.99 MW floating solar power plant in Cebu supplies the Carmen Copper mining site, covering about 10% of its energy needs, with connection to the national grid now effective.
Four photovoltaic plants totaling 50 MW will be built in Benin by Axian Energy and Sika Capital to strengthen the share of renewables in the country’s energy mix.

Log in to read this article

You'll also have access to a selection of our best content.