Summer 2023 Solar Industry Update slide image

Summer 2023 Solar Industry Update

U.S. Installation Breakdown Annual: EIA (GWac) According to EIA data, the United States installed 5.7 GWac of PV in the first quarter of 2023-up 44%, y/y and 6% q/q (representing the first increase in PV deployment between Q4 and Q1). Residential (1.9 GW) and C&I (0.7 GW) had their biggest quarters ever, while utility-scale PV (3.1 GW) had its biggest Q1 ever. In Q1 2023, Florida and California installed a combined 2 GW, or 35% of U.S. PV capacity. 8 7 Quarterly PV Installed (GW₁c) 0 3 S 6 U.S. PV Installations by Market Segment Utility-scale ■C&I ■Residential Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2017 2018 2019 2020 2021 2022 23 Q1'23 U.S. PV Installations by Region (5.7 GWac) Southwest 10% Florida 21% California Texas 5% 13% Other 3% Northeast Midwest 17% 20% Southeast 11% Note: EIA reports values in Wac which is standard for utilities. The solar industry has traditionally reported in Wdc. Installation growth in Q1 2023 in some states appears to be a result of EIA updating cumulative installation levels rather than installations during that period. Sources: EIA, "Electric Power Monthly," forms EIA Form 023, EIA Form 826, and EIA Form 861 (November 2022, February 2021, and February 2019). NREL 30
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