U.S. Solar Capacity Hits 50 Gigawatts in Historic 2024 Milestone

The United States installed a remarkable 50 gigawatts (GW) of new solar capacity in 2024, marking the largest single year of new additions to the grid from any energy technology in over 20 years.

This surge in capacity is enough to power approximately 8.5 million households, according to the US Solar Market Insight 2024 Year in Review, released by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.

Solar and storage technologies accounted for an impressive 84% of all new electric generating capacity added in 2024, underscoring the crucial role these renewable energy sources play in driving economic growth and job creation.

This surge in capacity is enough to power approximately 8.5 million households

Additionally, domestic manufacturing of solar modules experienced a significant boost, tripling in 2024 and positioning U.S. factories to meet nearly all domestic demand, a pivotal shift in the solar supply chain.

However, challenges loom on the horizon as sudden changes to federal tax credits and permitting policies could threaten this momentum. Experts warn of a potential decline in solar deployment by 130 GW over the next decade if these changes lead to uncertainty for investors, which could translate to a staggering loss of $250 billion in investments.

Such a slowdown may jeopardize the reliable energy needed to support sectors reliant on abundant power, including manufacturing and technology.

Texas stood out as the leader in new solar capacity additions, contributing 11.6 GW in 2024, while 21 states established new annual installation records. Despite the overall positive trends, the residential solar sector recorded its lowest installations since 2021, impacted by state policy shifts and rising interest rates, leaving analysts cautiously optimistic for a recovery in the coming years.

As the U.S. aims for a total solar capacity of 739 GW by 2035, sustained support for an inclusive energy strategy will be crucial to navigate the evolving landscape of solar energy and secure its role in the nation’s power future.