In the U.S., solar photovoltaic (PV) adoption is growing despite recent headwinds driven by supply chain disruptions and economic challenges associated with COVID-19.
Approximately 11.86 gigawatts (GW) of new solar PV became operational in 2020 — a record to date — and around a 68% increase from 2019 additions, according to data from Enverus Foundations™ | Power & Renewables.
Pursuant to Enverus’ renewable energy project tracking analytics data set, capacity deployment will continue to grow over the next five years. The growth is fueled by the relatively low cost of electricity generation from solar PV compared to other alternative sources of energy, and by companies continuing to diversify their portfolios across the energy stack. It is important to note that economic conditions and government incentives will impact future growth.
That said, as total production from solar PV continues to grow, so does the investable space. Below is a list of the top 10 U.S. solar developers by total capacity (MW) and project status as of Aug. 31, available within the Enverus Foundations Power & Renewables platform. Existing Foundations clients with the Enverus P&R project tracking add-on can access a workbook showing the analyses and more here.
Figure 1 | Top 10 U.S. Solar Developers by Megawatt