Solar Power In The US: By The Numbers
1. Fastest Growing Electricity Source
Solar power represents 46% of new power generation capacity being added by the US, according to the Energy Information Administration.
2. US Solar Power Broke Records in 2021
The US solar industry installed 23.6 gigawatts in 2021, reaching an accumulated capacity of 121.4 gigawatts, enough to power 23.3 million households. This figure includes 2.39 gigawatts of commercial and community solar projects, and 17 GW of utility-scale projects.
3. Economies of Scale
Commercial solar systems can achieve installed costs below $2,000 per kilowatt, and large industrial and grid-scale systems can reach costs below $1,000 per kilowatt.
4. Growing Electricity Savings
US electricity prices were up by 15.8% in the 12-month period ending in August 2022. Between July 2021 and July 2022, the average electricity tariff for commercial users in New York increased from 17.43 to 19.96 cents/kWh. The electricity savings achieved by a commercial solar array increase along with kWh prices.