US added nearly 50 GW of new solar generating capacity in 2024
From pv magazine USA
Nearly 50 GW of new solar generating capacity was connected to the U.S. power grid in 2024, per the 2025 Sustainable Energy in America Factbook.
The 13th annual report, released by the Business Council for Sustainable Energy and BloombergNEF, tracks policy and market trends in the American energy industry.
The record-breaking 49 GW has played a large role in addressing rising energy demand and replacing the capacity of decommissioned thermal assets.
“America’s solar manufacturers can now produce enough modules to meet all demand in the U.S.,” said Sean Gallagher, the senior vice president of policy at the Solar Energy Industry Association, during a briefing on the factbook.
Approximately 39.6 GW of utility-scale solar was deployed last year. Generation from these facilities rose 31.4% after experiencing its largest year-over-year growth since 2017. Close to 10 GW of rooftop solar was also added last year, with Texas serving as the largest market for new utility-scale solar.
Even so, the levelized cost of energy for fixed-axis PV solar rose 27% to $63/MWh despite tax credits helping to offset increased hardware costs.
The report notes that, despite supply chain hiccups, high interest rates and an uncertain tariff landscape, solar remains one of the cheapest sources of new bulk generation, with or without tax credits.
Efforts to reshoring module production are growing. An estimated $8 billion was used to bring new solar, wind, battery and electrolyzer manufacturing online in 2024. The authors ascribe the over-$7 billion jump from 2022 levels to post-IRA factory commissioning, subsidies, import tariffs and domestic content rules.
They caution, however, that the U.S. factory pipeline is “threatened.”
“Despite the flurry of activity in the last two and a half years,” they write, “There is no guarantee that all of the announcements will lead to factories being commissioned.”
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