The US solar industry achieved record growth in Q3 2024, adding an impressive 9.3 GW of solar module production capacity, according to a report by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.
This milestone coincides with the US's third-best quarter for solar installations, with 8.6 GW of new projects added, a 21% increase compared to Q3 2023. Significantly, this marks the return of local PV cell manufacturing since 2019.
The utility-scale segment led with 6.6 GW of commissioned projects, driven by increasing industrial electricity demand. Commercial and community solar also saw substantial growth, with a 44% increase in Q3 and a 12% year-over-year rise.
Texas led installations with 2.4 GW added, representing 26% of new solar capacity in 2024. Florida followed, with approximately 30,000 households adopting solar power this year. Nationally, 1.4 million homes have installed solar since January, taking advantage of federal incentives.
Projections for 2025 anticipate over 40 GW of new solar installations, with annual additions exceeding 43 GW from 2026 to 2029. By the end of the decade, over 71 million American homes are expected to be powered by solar energy.
Visit the SEIA website for more information"Our current outlook...has the US solar industry growing 2 percent per year on average, reaching a cumulative total of nearly 450 GW by the end of 2029...Demand for solar remains robust..." - Michelle Davis, Wood Mackenzie.
