Solar installations skyrocket in 2023 in record-setting first full year of Inflation Reduction Act

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For the first time in history, solar accounts for over 50% of new electricity capacity added to the grid..

The U.S. solar industry added a record-shattering 32.4 gigawatts (GW) of new electric generating capacity in 2023, a 37% increase from the previous record set in 2021 and a 51% increase from 2022.

According to the U.S. Solar Market Insight 2023 Year in Review released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, solar accounts for 53% of all new electric generating capacity added to the grid last year. This marks the first time in 80 years that a renewable electricity source has accounted for over 50% of annual capacity additions.

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Source: SEIA

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