U.S. Solar Power Market to Record 9.11% Annual Growth Rate in 2022

US Solar Power Market 2022-2026: Scope

Our US solar energy market report covers the following areas:

US Solar Power Market 2022-2026: Drivers and Challenges

the favorable government regulations is one of the main drivers supporting the US solar market growth. In the United States, the Investment Tax Credit (ITC) is an important federal policy developed to support the adoption of solar photovoltaic energy in the country. According to new legislation passed in December 2020, the ITC offers a tax credit of 26% for solar photovoltaic systems to be installed during the period 2020-2022 and 22% for systems to be installed in 2023. There, the annual number of installations has more than tripled over the past five years (2015 -2020). The continuation of the policy will encourage manufacturers to invest in R&D activities to develop cheaper and more reliable solar PV systems, which will propel the growth of the US solar power market during the forecast period. .

However, the growing number of alternative energy sources hinders the growth of the solar market in the United States. The cost of setting up renewable energy farms for power generation is high, and power generation from renewable sources is no match for fossil fuel generation. Thus, the preference for non-renewable energy sources is high in the market. On the other hand, the reduced cost of natural gas favors the increase in the production of electricity from natural gas, which is a challenge for the production of electricity from solar energy. Shale gas exploration in the United States is on the rise and has reached an all-time high. This has led to a continued decline in oil and gas prices. Therefore, declining global oil and gas prices will increase power generation from natural gas, which will affect the demand for residential solar PV systems during the forecast period.

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Solar Energy Market in the United States 2022-2026: Segmentation

  • Technology
    • Photovoltaic systems
    • Concentrated solar power systems
  • Application
    • Utility
    • Residential
    • Commercial

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US Solar Power Market 2022-2026: Highlights

  • Market CAGR over the forecast period 2022-2026
  • Detailed information on the factors that will contribute to the growth of the solar energy market in the United States during the next five years
  • Estimation of the solar energy market in the United States and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the solar energy market in us
  • Market Competitive Landscape Analysis and Detailed Vendor Information
  • Complete details of the factors that will challenge the growth of the solar power market among US vendors

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solar energy market in ArgentinaThe market share of solar energy in Argentina is expected to increase by 53.73 terawatt hours from 2021 to 2026, at a CAGR of 70.64%. Download a free sample now!

US solar energy market

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 9.69%

Market Growth 2022-2026

13.55GW

Market structure

Fragmented

Annual growth (%)

9.11

Regional analysis

we

Successful market contribution

100% United States

Main consumer countries

we

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

8minutenergy Renewables LLC, Abengoa SA, Acciona SA, BrightSource Energy Inc., Canadian Solar Inc., First Solar Inc., MA Mortenson Co., Nextera Energy Inc., SOLV Energy and SunPower Corp.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents :

Abstract

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: forecast for 2021 – 2026

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by application

  • Market segments
  • Comparison by application
  • Utility – Market size and forecast 2021-2026
  • Residential – Market size and forecast 2021-2026
  • Commercial – Market size and forecast 2021-2026
  • Market Opportunity by Application

Market segmentation by technology

  • Market segments
  • Comparison by technology
  • Photovoltaic systems – Market size and forecast 2021-2026
  • Concentrated solar power systems – Market size and forecast 2021-2026
  • Market Opportunity by Technology

Customer landscape

  • Customer landscape
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Overview
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • 8minutenergy Renewables LLC
  • Abengoa S.A.
  • Acciona SA
  • BrightSource Energy Inc.
  • Canadian Solar Inc.
  • Premier Solaire Inc.
  • MA Mortenson Co.
  • Nextera Energy Inc.
  • SOLV Energy
  • SunPower Corp.

appendix

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

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