According to the market report ‘US Solar Market Insight Q3 2023’, the US will install 32 gigawatts of peak solar panels this calendar year, a 52 percent increase compared to 2022.
10 times more
The U.S. solar market has been held back in recent years by supply chain challenges, including the coronavirus pandemic and U.S. government trade restrictions including the U.S. Uighur Forced Labor Prevention Act (UFLPA).
According to Wood Mackenzie, these challenges are diminishing and the disinflationary legislation is having an effect in stimulating domestic production. A wave of new investments is expected to boost domestic production in the coming years. If all these announcements come to pass, solar panel production in the US will be 10 times higher by 2026 than it is today.
375 GW peak
In the second quarter, the U.S. installed 5.6 gigawatts of solar panels, up 20 percent from the same quarter last year. Consumers set a new record by installing no less than 1.8 gigawatts of solar panels. Florida continues to lead the ‘state rankings’ with 2.5 GW of peak solar panels installed in the first half of 2023. That’s 52 percent more than the next state, California, and already has more capacity than Florida installed in 1 year. .
At the end of June, installed capacity peaked at 153 GW. WoodMackenzie expects this figure to rise to a peak of 375 GW by the end of 2028.
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