It's Sometimes Sunny

According to the latest SEIA report, solar had a "remarkable" year in 2024

The US solar industry installed nearly 50 (49.99) GWdc of capacity in 2024, according to the annual SEIA (Solar Energy Industries Association) report. The preeminent solar association in the country called this "remarkable," as it represents a 21% increase from 2023. For perspective, it's worth noting that renewable energy numbers tend to have annual increases, since they all began at very low percentages over the past few decades.

The industry continued breaking records and experiencing unprecedented growth, accounting for 66% of all new generating capacity added in 2024. All solar segments set annual installation records except for residential solar, which experienced its lowest year of new capacity since 2021.

The factors driving installation growth in 2024 varied for each segment. Commercial solar installed 2,118 MWdc in 2024, setting an annual record and growing by 8% year-over-year. California Net Energy Metering (NEM) 2.0 projects continued to come online through the fourth quarter, and strong deployments in Illinois and Maine ahead of net metering deadlines contributed to a solid year for the segment. The community solar segment completed its largest-ever quarter in Q4, achieving an annual record of 1,745 MWdc in 2024. This growth was primarily driven by record-breaking capacity additions in New York, Maine, and Illinois. The utility-scale segment deployed more than 16 GWdc in Q4 alone, supported by high module inventory levels. For the residential segment, a significant contraction in the California market and the impact of sustained high interest rates nationwide contributed to a 31% year-over-year decline in 2024, with 4.7 GWdc of installed capacity.