Solar is the fastest-growing source of electricity in the US and by 2027, total installed solar capacity will be nearly double what it is today, says the latest Solar Markets Insight report from the Solar Energy Industries Association and Wood Mackenzie. 2023 shattered records, with nearly 33 gigawatts of solar capacity installed - the largest annual addition in US history. Solar made up almost half of all new power capacity in the first three quarters of 2023, and the US now has about 161 gigawatts installed — enough to generate about 5% of the country’s electricity. Utility-scale installations in 2023 are expected to grow by 86%, a strong rebound from a year plagued by supply-chain constraints.

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