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U.S. Solar Shines with More than $8 Billion in 2Q Kickoffs

U.S. Solar Shines with More than $8 Billion in 2Q Kickoffs

March 14, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. installed 20.2 gigawatts (GW) of solar-power capacity in 2022, accounting for 50% of all new electricity-generating capacity added in the U.S. last year and the largest annual share in the industry's history, according to the Solar Energy Industries Association (SEIA). The U.S. now has 142.3 GW of installed solar capacity, and last year's passage of the Inflation Reduction Act is expected to further bolster development for years to come.

Industrial Info is tracking about $8.4 billion worth of active solar-power projects across the U.S. that are set to begin construction in the second quarter, which Industrial Info's researchers believe have a medium-to-high likelihood (70% or more) of beginning as planned. NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida), one of the most prolific U.S.-based developers of solar projects over the past decade, leads among project parent companies with eight projects totaling about $1.5 billion of investment value.

Other companies kicking off developments in the second quarter include Invenergy LLC; rPlus Energies, a subsidiary of commercial real-estate developer Gardner Company; and Nordex S.E..

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