Full Title: Solar Market Insight Report
Author(s): Solar Energy Industries Alliance
Publisher(s): Solar Energy Industries Alliance
Publication Date: December 4, 2024
Full Text: Download Resource
Description (excerpt):
In Q3 2024, the US solar market installed 8.6 GWdc of capacity, continuing the trend of record-setting quarterly volumes this year. While installations declined 13% quarter-over-quarter, they increased 21% compared to Q3 2023.
Solar accounted for 64% of all new electricity-generating capacity added to the US grid through Q3 2024. US solar now produces enough electricity annually to power over 37 million homes.
Domestic module manufacturing capacity increased substantially again in the third quarter, by over 9 GW to nearly 40 GW. At the end of Q2 2022, prior to the passage of domestic manufacturing and procurement tax credits, module manufacturing capacity stood at less than 7 GW – capacity has nearly quintupled since then. The first US cell manufacturing facility opened in Q3, reshoring cell manufacturing in the United States for the first time since 2019.