The solar sector has acquired significant importance over the past few years as countries worldwide have increasingly emphasized green energy initiatives. Solar accounted for 46% of all new electricity-generating capacity added in the United States last year, marking the third year in a row that solar represented the largest share of new capacity. Although the industry has faced several headwinds due to supply chain issues and cost pressures, its long-term growth prospects look vast. The impact of potential federal clean energy policies under consideration could potentially increase solar deployment by 66% over the next decade.
According to the U.S. Energy Information Administration, 46.1 gigawatts (GW) of new utility-scale electric generating capacity is expected to be added to the U.S. power grid this year, with almost half of the planned additions being solar. Furthermore, U.S. utility-scale solar generating capacity is expected to grow by 21.5 GW in 2022, surpassing last year’s estimated 15.5 GW of solar capacity additions.
