6.1GW! Photovoltaic installed capacity in the United States increased by 47% year-on-year in the first quarter of 2023
Research shows that the installed capacity of photovoltaic systems in the United States increased by 47% year-on-year in the first quarter of 2023, reaching 6.1GW.
According to the "US Photovoltaic Market Insight Report for the Second Quarter of 2023" jointly released by the American Photovoltaic Industry Association (SEIA) and Wood Mackenzie, the growth in installed capacity of photovoltaic systems in the first quarter of 2023 was mainly driven by higher demand from the Inflation Reduction Act and the increase in installed capacity of utility scale photovoltaic systems.
However, the installed capacity of photovoltaic systems installed in the first quarter of 2023 decreased by 19% compared to the fourth quarter of 2022.
The US utility scale photovoltaic market is recovering from slow growth in the first quarter of 2022 and achieved a record 3.8GW in the first quarter of 2023, a year-on-year increase of 66%.
In the first quarter of 2023, photovoltaic power generation alone accounted for 54% of the new electricity generated by the US grid.
Promote the procurement of photovoltaic modules
Due to the fact that photovoltaic systems can receive investment tax credits promised by the Inflation Reduction Act, more photovoltaic module importers can meet the requirements of the so-called Forced Labor Prevention Act in the United States, thereby alleviating the difficulties faced by the US photovoltaic module supply chain.
Abigail Ross Hopper, President and CEO of the American Photovoltaic Industry Association (SEIA), said, "As the Inflation Reduction Act begins to play an important role and drive market demand, the US photovoltaic and energy storage industry is eagerly awaiting further guidance on the most influential part of the law. The timely provision of concrete and feasible implementation guidance by the US government will have a significant impact on our recent and long-term success
Photovoltaic projects that have been delayed while waiting for photovoltaic components can now transport photovoltaic equipment to the project site in order to accelerate project progress.
Florida stood out in the first quarter of 2023 with a new installed capacity of 1.6GW of photovoltaic systems, becoming the number one photovoltaic market in the United States. The installed capacity of photovoltaic systems installed in Florida is 72% higher than that of California, which ranks second (951MW).
Florida also ranked first in the United States in the first quarter of 2023 with a 1.46GW utility scale photovoltaic system installed.
Roof photovoltaic and commercial photovoltaic markets
The US rooftop photovoltaic market installed 1.6GW of rooftop photovoltaic systems in the first quarter of 2023, an increase of 30% compared to the same period last year.
Wood Mackenzie expects that third-party owned photovoltaic systems will begin to qualify for investment tax credits, and various segments of the market will benefit from the Inflation Reduction Act, which will result in a 12% increase in all states except California.
Due to the easing of supply chain restrictions, the commercial sector installed 391MW of photovoltaic systems in the first quarter of 2023, a year-on-year increase of 27%. The report further predicts that by 2024, the size of the commercial photovoltaic market in the United States will increase by 13%.
Driven by the investment tax credit under the Inflation Reduction Act, as the growth of emerging markets accelerates, the growth rate of commercial photovoltaics in the United States is expected to reach 11% in 2027 and 14% in 2028.
Community photovoltaic market
The community photovoltaic market in the United States decreased by 13% year-on-year in the first quarter of 2023, which is the lowest quarter of newly added photovoltaic system installed capacity since the first quarter of 2021.
