Solar Industry Sets Records For 2020

Despite the Covid 19 Pandemic, the U.S. solar market experienced significant growth in 2020.

According to the Solar Energy Industries Association (SEIA), the industry grew by 43 percent and installed more than 19 gigawatts of solar electric capacity in 2020. Also notable is the fact that, for the second year in a row, solar power was the largest source of new electric-generating capacity.

Seia new electric capacity
SEIA – Past 10 Years New Electric Capacity Trend

“After a slowdown in Q2 due to the pandemic, the solar industry innovated and came roaring back to continue our trajectory as America’s leading source of new energy,” – SEIA president Abigail Ross Hopper. Case in point is the fact that 4th quarter of 2020 saw the most solar installed compared to any prior quarter on record. 2020 beats the previous best year for solar, 2016, by almost 5 gigawatts.

Some of the key figures from SEIA’s report include;

  • The extension of the 26 percent Investment Tax Credit has lead to a 17 percent increase in the expected amount of solar to be installed from 2021-2025.
  • The final quarter of business in 2020 saw an impressive 6 gigawatts of industrial scale solar installed. This is part of a significant 69 gigawatts of utility scale solar projects currently in the pipeline.
  • Residential solar saw an increase of 11 percent over 2019 with 3.1 gigawatts installed. This is rather impressive considering the initial slow down due to the pandemic.

This amazing growth trend is predicted to continue over the next 10 years. It is expected that in that time period, the U.S. will add 324 gigawatts of solar capacity, bringing the overall total installed capacity to 419 gigawatts. To put this into perspective, this predicted growth will have the upcoming decade responsible for almost 80 percent of total installed solar by 2030.

Now, more than ever, word is beginning to spread that solar power truly is affordable. Not only is it very affordable, but homeowners everywhere are starting to realize how much they can save by going solar. This news is a very large part of the amazing year that we just saw for solar energy in the U.S. It’s also why the SEIA and many other solar organizations are expecting an accelerated adoption of solar at all scales in the coming years.

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37 Responses to Solar Industry Sets Records For 2020

  1. Cynthia Spencer says:

    Welcome back. it’s taken a few years to do this, our solar farm will be competed by July We will receive a check every year from them. Plus, We have ground mount solar for our house. Glad to see the increase in going solar.

  2. Fire Bite says:

    In conclusion, the solar industry has experienced remarkable growth and achievement in 2020. Despite the challenges posed by the global pandemic, the industry has set new records in terms of installations, capacity additions, and investments. This success can be attributed to various factors such as declining costs, increasing demand for clean energy, and supportive government policies. The solar industry’s impressive performance in 2020 not only showcases its resilience but also highlights its crucial role in the transition towards a sustainable and renewable energy future.

  3. Atlantic Rim says:

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  4. bugger says:

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  5. Old Regret says:

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  6. twix esses says:

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  7. Moxie says:

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  8. Sylvester Eye says:

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  9. rooster says:

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  14. Crash Test says:

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  15. 42nd Street says:

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  17. Red Woman says:

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  18. xFRST says:

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  20. Indigo Red says:

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  21. LunaStar says:

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  24. double eerie says:

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  25. jelly camber says:

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  26. 42nd Street says:

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  27. Psycho Thinker says:

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  28. Dark Horse says:

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  29. beo says:

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  30. killah goose says:

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  31. Lil Rebel Ma says:

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  32. 3D Waffle says:

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  33. TulipCake says:

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  34. Bambi Wings says:

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  35. mantis queen says:

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  36. Star Scratch says:

    In conclusion, the solar industry has experienced remarkable growth and success in 2020, setting numerous records. This achievement can be attributed to the increasing demand for renewable energy sources and the advancements in solar technology. The industry’s ability to adapt to changing market conditions and its commitment to sustainability has positioned it as a key player in the global energy transition. As we move forward, it is expected that the solar industry will continue to thrive, contributing significantly to the reduction of greenhouse gas emissions and the development of a more sustainable future.

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