Who are the biggest solar players in the US?
- Published byGabriel Cañadas
Gabriel Cañadas
20 Jul, 22
The US solar market is in the midst of a rapid period of growth. It installed a record 23.6GW of new generation capacity in 2021, despite the challenges brought by supply chain disruptions during the Covid-19 pandemic.
Solar was the fastest-growing energy source in the country for the third straight year, increasing by 25.23% over 2020 to more than 121GW and ranking it the world’s third largest solar market after China and the European Union. Another 21.8GW of utility-scale capacity is expected to come online in the US this year, helping renewables to overtake coal-fired generation.
US solar has grown by an average of 33% annually over the past decade, driven by declining costs for residential and utility-scale systems, rising demand from the public and private sectors for clean energy, and supportive policies like the solar Investment Tax Credit (ITC). The industry generated more than $33 billion of private investment in 2021 alone.
The Biden Administration has set out ambitious plans