The United States added 35.3 GW of new solar energy production capacity in 2023.
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The U.S. Department of Energy’s Energy Information Administration (EIA) plans to deploy at least 50 GW of solar energy in 2024.
Overall, low-emission electricity sources, excluding nuclear, saw a marginal increase from 962 TWh to 972 TWh of generation. The flat growth was due to hydroelectricity falling just over 6%, while wind fell almost 2%. Overall, renewables, which accounted for 1% growth and 2% decline in electricity demand, covered 23% of all generation, setting a new record. Adding nuclear power, 41.1% of all electricity generated came from zero-carbon sources, another all-time high.
One of the reasons for the strong deployment volume growth in 2023 was a recovery from the slowdown in 2022 due to the pandemic and supply chain constraints. The largest price increase occurred in solar modules, whose prices were heavily influenced by a significant increase in polysilicon costs. However, since then, polysilicon prices have fallen dramatically and module prices have remained near all-time lows in recent months.
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