Solar Market and Cost Analysis slide image

Solar Market and Cost Analysis

Solar Generation as a Percentage of Total Net Generation Solar Generation as a Percentage of Total Generation, Q4 2021-Q3 2022 30% 25% 27.3% 22.9% 20% 15% 10% 5% 19.4% 17.5% 17.1% CSP Residential C&I UPV • 11.1% 10.0% 9.5% 9.0% 6.7% 6.2% 5.9% 5.6% 5.4% 5.3% 4.6% · 0% CA NV MA VT HI UT AZ RI NC NJ NM CO ME GA VA FL U.S. Note: EIA monthly data for 2022 are not final. Additionally, smaller utilities report information to EIA on a yearly basis, and therefore a certain amount of solar data has not yet been reported. "Net Generation" includes distributed PV generation. Net generation does not take into account imports and exports to and from each state, and therefore the percentage of solar consumed in each state may vary from its percentage of net generation. Source: U.S. Energy Information Administration (EIA), "Electricity Data Browser." Accessed January 23, 2023. • During the 1-year time span from Q4 2021 to Q3 2022, 17 states generated more than 5% of their electricity from solar, with California leading the way at 27.3%. - - - Five states (California, Nevada, Massachusetts, Vermont, and Hawaii) generated more than 15% of their electricity using solar. These five states have consistently led in solar generation for several years, although Nevada overtook Massachusetts and Vermont overtook Hawaii during this period. Colorado, Maine, Georgia, Virginia, and Florida all recently surpassed 5% solar generation. Interestingly, despite having significant levels of deployment, Texas, at 4.7%, has yet to hit this threshold. Nationally, 4.6% of electricity was generated from solar-up from 3.9% during calendar year 2021. The roles of utility and distributed solar varies by state. Southern and Western states rely more on utility-scale solar, while northern states and Hawaii rely more on distributed solar. NREL 16
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