Solar Energy Statistics (2023)
In this article, we'll explore key statistics related to the solar energy industry in the United States. We'll cover how much energy solar provides, the percentage of homes using solar power, installation costs, and solar energy trends.
- How Much Energy Does Solar Provide in The U.S.?
- What Percentage of Homes in The U.S. Use Solar Energy?
- Which States Produce the Most Solar Energy?
- How Much Does It Cost to Install Solar Panels?
- Solar Energy Growth in the U.S.
Key Solar Energy Statistics
- 1.8% of the total U.S. energy consumption comes from solar energy.
- 3.4% of all electricity generated in the U.S. comes from solar energy.
- Every 90 minutes enough sunlight reaches the earth to handle the entire global energy consumption for a whole year.
- 263,833 people are employed in the solar industry in the U.S. making it the third largest energy industry employer behind petroleum and natural gas.
- 6% of single-family owner-occupied homes had solar panels installed by the end of 2022.
- An average residential solar system typically costs between $10,000 and $25,000 to install.
How Much Energy Does Solar Provide in The U.S.?
The U.S. is heavily reliant on petroleum and natural gas to meet its energy needs. Together these two account for 69% of the U.S. energy consumption. Renewable sources provide energy for 13% of consumption, and solar energy accounts for a fraction of the energy coming from renewable sources.
Biomass, wind, hydroelectric, solar, and geothermal all are considered renewable energy sources.
Solar accounted for 1.8 quadrillion British thermal units of energy consumed in the U.S. in 2022. In total that year, the country consumed 100.4 quadrillion Btu of energy. This means solar provides enough energy for roughly 1.8% of the U.S. energy consumption.
The total share of electricity generated from solar was slightly higher. Around 3.4% of all electricity generated in the U.S. comes from solar energy.
Solar Energy's Potential
Every 90 minutes enough sunlight reaches the earth to handle the entire global energy consumption for a whole year.
The U.S. Department of Energy estimates that a 22,000 square-mile area (roughly the size of Lake Michigan) full of solar panels could provide enough energy to power the entire U.S.
What Percentage of Homes in The U.S. Use Solar Energy?
The U.S. has more than 149 gigawatts of solar capacity installed across the country which could generate enough power for 26 million homes. Just 20% of this capacity is generated from residential installations as the majority comes from utility-scale solar projects, commercial installations, and community solar projects.
- According to the U.S. Energy Information Administration, 3.7% of U.S. single-family homes had solar panels installed in 2020.
- The National Renewable Energy Laboratory stated that there were approximately 2.7 million homes in the U.S. with residential solar systems by the end of 2020.
- Around 700,000 homeowners installed solar panels in 2022.
- The Solar Energy Industries Association estimated that by the end of 2022, 6% of single-family owner-occupied homes had solar panels installed.
The Department of Energy claims that solar is the fastest-growing and most affordable source of new electricity in the U.S. The number of homes with solar panels is on the rise and is expected to continue growing quickly into the future.
How Much Does It Cost to Install Solar Panels?
Many factors can influence the cost of installing a residential solar system, especially the number and type of panels used. On average, installing a solar panel system will typically cost between $10,000 and $25,000.
The U.S. currently has a 30% tax credit in place until 2032 to incentivize people to install solar panels.
While solar panels don’t completely eliminate an owner’s energy bills, they do reduce them significantly. While many factors can affect an owner’s cost savings, an average residential solar system cuts back expenses by around $1,500 per year.
Most residential systems pay for themselves over the course of around 10 years and are typically warrantied for 25 years. This can lead to significant cost savings over time!
Be sure to research the cost of electricity, the amount of sunlight, and installation costs to get a robust estimate of cost savings from solar panels over time in your area.
Which States Produce the Most Solar Energy?
Solar energy is most common in Western states where 8.9% of single-family homes generated electricity from solar panels in 2020. 4.7% of single-family homes in the Northeast had solar panels, followed by the South (1.7%) and the Midwest (1.4%).
California accounts for nearly 29% of the solar energy production in the U.S. Here is a breakdown of the top solar energy-producing states.
Solar Energy Growth in the U.S.
In the year 2012, the U.S. generated just 4,327 gigawatt hours of electricity from solar. By 2022, the energy generated from solar had risen to 145,598 gigawatt hours. That’s a 33.6x increase over 10 years!
Solar electricity generation in the U.S. is showing no signs of slowing down and is expected to continue growing into the future.
Solar Industry Projections
While only 3% of the total electricity generated in the U.S. came from solar in 2020, the U.S. Energy Information Administration predicts that this will rise to 20% by 2050.
These projections assume no changes to the current laws and regulations. If natural gas and oil prices are higher than the reference case for the projections, it’s possible to see 25-27% of all electricity generated in the U.S. come from solar by 2050.
Solar Energy Industry Job Growth
Despite providing just 1.8% of the energy consumed in the U.S. in 2022, the solar industry is a large and growing industry.
- 263,833 people are employed in the solar industry in the U.S. making it the third largest energy industry employer behind petroleum and natural gas.
- Jobs in the U.S. solar industry grew 3.5% from 2021 to 2022.
- 42 states had solar job growth in 2022.
- About two-thirds of jobs in the solar industry are at installation and project development firms.
Conclusion
In conclusion, solar energy in the United States is on the rise, accounting for approximately 1.8% of total energy consumption and 3.4% of electricity generation.
With over 263,000 jobs, it stands as the third-largest energy industry employer.
Solar energy's promising growth and increasing adoption highlight its role in a cleaner, more sustainable energy future.
Sources
U.S. Energy Information Administration
Interstate Renewable Energy Council
Office of Energy Efficiency & Renewable Energy
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