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In a Milestone, the US Exceeds 5 Million Solar Installations
According to the Solar Energy Industries Association (SEIA), the U.S. has officially surpassed 5 million solar installations. "The 5 million milestone comes just eight years after the U.S. achieved its first million in 2016 -- a stark contrast to the four decades it took to reach that initial milestone since the first grid-connected solar project in 1973," reports Electrek. From the report: Since the beginning of 2020, more than half of all U.S. solar installations have come online, and over 25% have been activated since the Inflation Reduction Act became law 20 months ago. Solar arrays have been installed on homes and businesses and as utility-scale solar farms. The U.S. solar market was valued at $51 billion in 2023. Even with changes in state policies, market trends indicate robust growth in solar installations across the U.S. According to SEIA forecasts, the number of solar installations is expected to double to 10 million by 2030 and triple to 15 million by 2034. The residential sector represents 97% of all U.S. solar installations. This sector has consistently set new records for annual installations over the past several years, achieving new highs for five straight years and in 10 out of the last 12 years. The significant growth in residential solar can be attributed to its proven value as an investment for homeowners who wish to manage their energy costs more effectively. California is the frontrunner with 2 million solar installations, though recent state policies have significantly damaged its rooftop solar market. Meanwhile, other states are experiencing rapid growth. For example, Illinois, which had only 2,500 solar installations in 2017, now boasts over 87,000. Similarly, Florida has seen its solar installations surge from 22,000 in 2017 to 235,000 today. By 2030, 22 states or territories are anticipated to surpass 100,000 solar installations. The U.S. has enough solar installed to cover every residential rooftop in the Four Corners states of Colorado, Utah, Arizona, and New Mexico.