By Theresa Ficazzola
According to the Solar Energy Industries Association (SEIA), the solar industry’s premier national trade association, the United States installed a record-breaking 50 gigawatts (GW) of new solar capacity in 2024. This represents the largest single year of new capacity added to the grid by any energy technology in over two decades. Solar accounted for 84% of all new electric generating capacity added to the grid last year.
“Last year’s record-level of installations was aided by several solar policies and credits within the Inflation Reduction Act that helped drive interest in the solar market,” said Sylvia Levya Martinez, Principal Analyst, North America Utility-Scale Solar for Wood Mackenzie. “We still have many challenges ahead, including unprecedented load growth on the power grid. If many of these policies were eliminated or significantly altered, it would be very detrimental to the industry’s continued growth.”
US Solar Manufacturing Soaring
Rather than relying on imported solar equipment, the US can now turn toward itself when it comes to solar. According to the SEIA, domestic solar module production tripled last year, and at full capacity, US factories can now produce enough to meet nearly all demand for solar panels in the United States.
“Solar and storage can be built faster and more affordably than any other technology, ensuring the United States has the power needed to compete in the global economy and meet rising electricity demand,” said SEIA president and CEO Abigail Ross Hopper. “America’s solar and storage industry set historic deployment and manufacturing records in 2024, creating jobs and driving economic growth. It’s critical that lawmakers continue to support an ‘all of the above’ energy strategy that fosters the growth of American energy sources like solar and storage.”
Good and Bad News
Total US solar capacity is expected to reach 739 GW by 2035; however, the recent passage of the Big, Beautiful Bill will eliminate the 30% federal tax credit for solar beginning in 2026. That means people who are thinking about adding solar to their homes to save money and fight climate change will need to pay more for solar out of pocket because the federal government has decided to remove the federal incentive.
While this development is certainly a challenge, solar still represents a viable alternative to families looking to save money on their electricity bills. This is especially true in states like New York where electric rates continue to climb each year and are among the highest in the nation.
Current SEIA Stats:
- Current Solar Capacity: 255.4 GW
- Total Solar Jobs: 279,447
- Value of Solar Market in 2024: $70.8 billion
- Number of US Solar Businesses: 10,000+
- Total Solar Systems Installed in the U.S.: 5,693,325
- States with a Solar or Battery Manufacturing Facility: 41
- In 2024, a New Project was Installed Every: 54 seconds
- Enough Solar Installed in the US to Power: 42.5 million homes
Solar in New York (as reported by SEIA as of 2Q25)
- Ranked 8th in national solar capacity
- 7,191 megawatts (MW) of solar installed
- Enough solar to power 1,228,228 homes
- The percentage of the state’s electricity from solar is 6.56%
- 12,114 solar jobs
Solar in New Jersey (as reported by SEIA as of 2Q25)
- Ranked 12th in national solar capacity
- 5,687 megawatts (MW) of solar installed
- Enough solar to power 940,935 homes
- The percentage of the state’s electricity from solar is 8.61%
- 6,628 solar jobs
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