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10mo ago

US Solar Industry Achieves Record Growth in Q1 2024

New federal investments and policy shifts drive historic expansion, with significant contributions from Texas and Florida.

The sun beats down on Jake Dockins as he walks through a solar array in September at the Blue Jay solar and storage plant in Iola. Texas, which added more solar capacity in 2023 than any state ever has in a single year, is forecast to nearly double total capacity this decade, according to a new report.
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Overview

  • The US added 11.8 gigawatts of new solar panel manufacturing capacity in Q1 2024, the largest quarterly increase in history.
  • Solar energy accounted for 75% of all new electricity-generating capacity added to the US grid last quarter.
  • Texas and Florida led the nation in new utility-scale solar installations in Q1 2024, with 2.6 and 2.7 gigawatts, respectively.
  • Total US solar capacity is projected to more than double by 2029, reaching 438 gigawatts.
  • Challenges remain, including labor availability, high voltage equipment constraints, and trade policy uncertainties.