The United States Solar Energy Market Report is Segmented by Type (Solar Photovoltaic and Concentrated Solar Power), Mounting Type (Ground-Mounted, Rooftop, and Floating Solar), and End-Use (Utility-Scale, Commercial and Industrial, and Residential). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

As of 2023, Quanta Services was the leading solar power contractor in the United States in terms of installed solar capacity, with a total of 15.5 gigawatts. They were followed by SOLV Energy, which had a cumulative installed capacity of 12.9 gigawatts.

The Report Covers the US Renewable Energy Market Trends and Companies. The Market is Segmented Into Source (Wind, Solar, Hydropower, Bioenergy, and Other Sources [Geothermal and Renewable Municipal Waste]). The Market Size and Forecasts are Provided for Renewable Energy in Installed Capacity (GW) for all the Above Segments.

United States Solar Energy Market is projected to grow at significant rate during the Forecast period, on account of increasing awareness among consumers, huge investments, and supportive government policies.

The global solar energy market is expected to reach 422 billion U.S. dollars in 2022, in comparison to 86 billion U.S. dollars in 2015. Solar energy is one of the most popular renewable energy sources and in recent years more capacity was deployed than traditional energy sources. The success related to the solar energy segment can be attributed to the declining cost of installing solar photovoltaic systems.

Regional solar markets

China and the United States were two of the largest solar markets in the world, driving a large portion of global solar demand. Europe, on the other hand, had experienced a declining solar market for over five years, but has seen growth recently due to Turkey’s expansion of solar capacity. These mature markets are expected to reduce their hold on the market as emerging markets in Latin America, the Middle East, and Africa grow. However, solar prices in emerging markets will be much higher than in developed markets as business situations can be less than ideal. In these cases, development financing institutions may help cover risks associated with financing solar projects.

The United States solar energy market size was nearly 172.41 Gigawatt in 2024. The market is estimated to grow at a CAGR of 12.90% during 2025-2034, to reach around 580.10 Gigawatt by 2034.

United States solar energy market valued at USD 75 billion, driven by renewable investments, tech advancements, and policies like Inflation Reduction Act for sustainable growth.

Solar power companies have skyrocketed, propelled by improvements in the technologies used for electricity generation and government incentives, like the renewable portfolio standard (RPS) targets. RPS legislation requires local utility companies to diversify their portfolio and generate percentages of their energy production through renewable resources. Increases in public support for green energy led to tax incentives and grants to encourage investment in solar power. This has led to more companies powering facilities with solar power, driving growth. Revenue has swelled at a CAGR of 23.2% to $32.6 billion through the end of 2025, including a 34.1% uptick in 2025 alone. Government assistance from federal and state entities led to significant growth in solar power. The number of solar projects has skyrocketed, exemplifying a triumph for energy policy in solar power, which has historically struggled to compete with traditional power sources. Government programs like credits, grants and tax exemptions have allowed many companies to overcome the high entry costs of solar power and support solar energy development. The declines in the price of inputs over the past few decades have lowered operational costs, bolstering profit. Tax credits have also bolstered the number of solar panel manufacturers in the US, allowing the industry to face little setback after tariff waivers on foreign panels expired. Through 2030, many trends that have allowed the industry to succeed will continue. Government tax credits will remain active, allowing solar power companies to compete with other energy sources. The domestic solar panel manufacturing surge will enable companies to source panels much more quickly, letting solar power expand rapidly. Even so, the new Trump administration has been vocal in supporting fossil fuels and has stated it plans to expand oil and gas production, which may weaken solar power. Nonetheless, upgrades in technology will enable solar panels to become more efficient, bringing down the cost and allowing them to achieve grid parity in states where solar is price-competitive. Revenue will expand at a CAGR of 20.5% to $82.9 billion through 2030.

United States Solar Energy Solutions Market was valued at USD 30.4 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 15.7% through 2029.

The value of the United States' solar market increased from some **** billion U.S. dollars in 2020 to more than ** billion U.S. dollars in 2024. Since 2022, the U.S. solar market value has increased by more than double.

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US Residential Solar Market Size 2025-2029

The US residential solar market size is forecast to increase by USD 10.93 billion at a CAGR of 12.3% between 2024 and 2029.

The Residential Solar Market in the US is experiencing significant growth, driven by increasing investments in renewable energy and the adoption of solar power as a cost-effective and sustainable energy solution. The integration of residential energy storage systems is a key trend, enabling solar panels to function as virtual power plants during peak energy usage hours. This not only reduces reliance on traditional power grids but also provides energy security and stability. However, the market faces challenges, including the availability of alternative technologies such as wind and geothermal energy, which may impact the competitiveness of solar power.
Additionally, the upfront costs of solar panel installation and maintenance can be a barrier for some homeowners. To navigate these challenges, companies can explore partnerships with energy providers, offer financing options, and focus on improving the efficiency and affordability of their solar panel systems. Moreover, the emergence of smart home technology and the integration of solar panels with other home systems, such as heating and cooling, can create new opportunities for innovation and growth in the market. Companies like Tesla, SunPower, and Sunrun are leading the charge, offering integrated solar and energy storage solutions to meet the evolving needs of homeowners.
By staying attuned to these trends and challenges, companies can effectively capitalize on the potential of the Residential Solar Market in the US and position themselves for long-term success.

What will be the size of the US Residential Solar Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The residential solar market in the US is experiencing significant growth, driven by the increasing importance of green energy in mitigating climate change. Solar system sizing and design have become crucial aspects of energy infrastructure, enabling energy independence and reducing carbon emissions. The integration of solar energy with electric vehicles and energy management systems is transforming the market. Energy conservation, energy efficiency, and smart grid technologies are essential components of this transition. Solar irradiance and resource assessment play a vital role in solar energy simulation and modeling, ensuring optimal system performance. Building energy efficiency and industrial energy efficiency improvements are complementary to solar system implementation.
Energy policy and grid modernization are shaping the market landscape, with a focus on energy economics and energy storage technologies. Solar panel cleaning and maintenance are essential for maximizing system productivity. Sustainable development and renewable energy are key trends, with solar system monitoring and energy audits providing valuable insights for businesses.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Technology

  Crystalline silicon
  Thin-film


Location

  California
  Florida
  Arizona
  Rest of US


Type

  Rooftop solar systems
  Ground-mounted solar systems


Connectivity

  On-grid solar systems
  Off-grid solar systems


Geography

  North America

    US

By Technology Insights

The crystalline silicon segment is estimated to witness significant growth during the forecast period.

The residential solar market in the US is witnessing significant growth, driven by advancements in solar technology and increasing consumer demand for sustainable energy solutions. Solar energy systems, including solar panels made from crystalline silicon, are at the forefront of this trend. Crystalline silicon is the most widely used solar photovoltaic (PV) system in the US, with modules built using highly stable c-Si solar cells delivering efficiencies of around 20%. Two types of c-Si are used to manufacture PV modules: mono-crystalline silicon and multi-c-Si. Both types function similarly in the overall solar PV system, converting solar energy into electricity. Mono-crystalline panels are produced by molding silicon into bars and cutting it into wafers, while multi-c-Si solar panels are made by melting silicon fragments together.

Solar energy distribution is facilitated through grid-tied systems, enabling excess energy generated to be fed back into the grid. Solar maintenance is crucial for optimal system performance, with regular monitoring and solar panel cleaning essential. Solar energy research continues to

The market report covers United States Distributed Solar Power Generation Companies. Distributed solar power generation is the generation of power from solar energy for personal use. The energy produced is not sent to a centralized grid rather is used directly in households, industries, and commercial centers.

United States Renewable Energy Market Outlook 2031

The United States renewable energy market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 10.1% during the forecast period, 2023–2031. The growth of the market is attributed to government policies and initiatives to fulfil increased electricity demand using renewable energy sources have been praised.



In 2020, United States electricity generated through renewable energy sources (such as wind, hydropower, solar, biomass, and geothermal energy) a record 834 billion kilowatt-hours (kWh) accounting for around 21% of all electricity generated in the US.

In the United States in 2020, only natural gas (1,617 billion kWh) produced more power than renewables. For the first time in history, renewables outperformed nuclear (790 billion kWh) and coal (774 billion kWh). This result in 2020 was mostly owing to a major reduction in coal use in energy generation in the United States, as well as constantly increasing use of wind and solar.



In 2007, coal-fired electricity output in the United States reached a high of 2,016 billion kWh, although much of that capacity has since been replaced or converted to natural gas-fired power.



Until 2016 coal was the greatest source of electricity in the US, and by 2020 was the first year when renewables and nuclear power provided more electricity than coal (according to our data series that dates back to 1949). Because many nuclear power plants retired and other nuclear facilities suffered slightly more maintenance-related interruptions, nuclear electric generation dropped by Two percent from 2019 to 2020.



With a 42 % rise between 2010 and 2020, renewable energy is the rapidly growing energy source in the United States from 2000 to 2020, it increased by 90%.



In 2020, renewables accounted for about 20% of utility-scale energy generation in the United States, with hydropower <str

The North America renewable energy market is primarily supporting the global industry growth, in which nearly 3058.36 Gigawatt of renewable energy was installed in 2024. Aided by the adoption of solar power as a part of renewable portfolio targets (RPS) and Federal investment tax credit (ITC), the global renewable energy installations is projected to grow at a CAGR of nearly 7.60% in the forecast period of 2025-2034 to reach 6362.26 Gigawatt by 2034.

United States Solar Energy Panel Market was valued at USD 18.5 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 20.7% through 2029.

The North America Solar Photovoltaic (PV) Market is segmented by Application (Residential, Commercial, and Utility), Deployment (Ground Mounted and Rooftop Solar), Technology (Crystalline Solar and Thin Film), and Geography (United States, Canada, and Mexico). The report offers the market size and forecasts installed capacity (GW) for all the above segments.

The report covers North America Renewable Energy Market Outlook and is segmented by type (Hydro, Solar, Wind, Bioenergy, and Others) and Geography (United States, Canada, and Rest of North America). The market size and forecasts are provided in installed capacity (Gigawatts) for all the above segments.

In 2024, net solar power generation in the United States reached its highest point yet at 218.5 terawatt hours of solar thermal and photovoltaic (PV) power. Solar power generation has increased drastically over the past two decades, especially since 2011, when it hovered just below two terawatt hours. The U.S. solar industry In the United States, an exceptionally high number of solar-related jobs are based in California. With a boost from state legislation, California has long been a forerunner in solar technology. In the second quarter of 2024, it had a cumulative solar PV capacity of more than 48 gigawatts. Outside of California, Texas, Florida, and North Carolina were the states with the largest solar PV capacity. Clean energy in the U.S. In recent years, solar power generation has seen more rapid growth than wind power in the United States. However, among renewables used for electricity, wind has been a more common and substantial source for the past decade. Wind power surpassed conventional hydropower as the largest source of renewable electricity in 2019. While there are major environmental costs often associated with the construction and operation of large hydropower facilities, hydro remains a vital source of electricity generation for the United States.

United States renewable energy market valued at USD 160 billion, driven by solar PV, wind growth, government incentives like Inflation Reduction Act, and tech advancements for clean energy transition.

US Solar Energy Market Outlook

The US Solar Energy Market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031 expanding at a CAGR of 16.48% during 2023 – 2031. The growth of the market is attributed to the increasing number of solar photovoltaic projects under construction, in pipeline, and in planning stages in the country.



Solar energy is one of the most accessible and environment preferable renewable energy sources on the planet. Solar energy is the radiant energy released by the sun that can be stored using photovoltaic cells, solar heating, and other technologies. It is a cost-effective and practical renewable energy solution for rising global warming, greenhouse gas emissions, and unconventional energy.

The United States, along with China, Germany, and Spain, possesses the world's largest solar storage resources. Solar energy is not always produced at the time of need, therefore it is important to store the solar energy in a reliable form. Solar energy storage is generally divided into three categories namely thermal storage, mechanical storage, and battery storage.



Thermal storage uses mediums, such as molten salt or water to absorb and retain heat from the sun. This medium is kept in an insulated tank till the requirement of energy. Mechanical storage transforms additional electrical power into mechanical power, which is converted back into electricity whenever needed. Electricity generated by steam-driven turbines or solar cells can be stored using batteries when the sun shines. Energy is stored in the form of electrochemical potential or super capacitors in batteries. When needed, the solar energy can be released.



The COVID-19 pandemic outbreak had negatively impacted the US solar energy market. During the pandemic, the lockdown imposed by government body had resulted in temporary shutdown of manufacturing plant of solar projects. As a result, the global supply chain of raw materials across the country had been completely disrupted. Additionally, the pandemic had adversely delayed the <a href="https://growthmarketreports.com/report/solar-power-market-spain-industry-analysis" target="_blank"