Solar projects that were delayed in 2022 are expected to come online this year, giving the solar industry a record-breaking capacity boost. The solar panels that were installed last year are also expected to generate power this year, which will help to meet the increasing demand for solar energy.
The solar energy industry in the United States is continuing to grow exponentially, with developers aiming to add 29.1 GW of solar generating capacity to the U.S. grid by 2023 — accounting for 54% of all new generating capacity planned for the year. This surge in solar energy production comes in response to Americans’ concern that renewable sources must become a bigger part of everyday life if we are to meet our long-term national and global environmental goals. With solar energy expected to make up 54% of new generating capacity this year, it is clear that solar power will play an even larger role in meeting our growing demand for clean electricity moving forward.
This year solar energy is expected to take the lead in terms of energy capacity coming online according to the EIA – solar panels are anticipated to add a total of 54.5 GW, which is a steep surge from previous years and further pushes solar into its position as the leading renewable source of energy. Battery storage is second highest at 9.4 GW or 17%, with 6 GW of wind capacity trailing in its wake. This is an exciting development given that solar and battery storage are two key elements when looking towards advancing our move away from conventional forms of energy, towards sustainable alternatives. It’s encouraging to see that solar technology continues to be at the forefront here.
Moreover, The solar industry is on the rise as solar energy becomes increasingly popular among consumers and businesses. Thanks to the recently implemented Inflation Reduction Act and its tax credits for solar production and projects that are investing in the solar supply chain to meet rising demand.
Overall, As solar energy grows in popularity, people continue to invest in solar panels as an alternative energy source that can save them money in the long run. With rises in solar investments, manufacturers are expected to expand solar energy opportunities even further.
