In its April 2024 Electric Power Monthly report, the Energy Information Administration announced that solar power was the fastest-growing source of electricity in the nation in 2024. 

Electrek reported in February that utility-scale and rooftop solar increased approximately 27% in 2024 compared with the same period in 2023. Similarly, the Solar Energy Industries Association reported in March that solar added more new grid capacity in 2024 than any other energy technology in the past 20 years, citing 50 gigawatts (GW) installed—a new record.

Solar expansion is pushing the clean energy transition. Continuing that trend, EIA data predicts an additional 32 GW of solar capacity will enhance the power sector in 2025, compared with 30 GW installed in 2024.

One of the reasons for the amplified demand for solar is directly correlated to the savings of around $50,000 the average U.S. homeowner can expect to see on their electric bills over the lifetime of their chosen solar-powered energy system, according to EnergySage. Residents in states where electricity costs are especially high—such as California—may save upwards of $100,000.

The Inflation Reduction Act provides additional savings through a federal solar tax credit of 30% off the cost of installation, and some states offer even more rebates. However, some of these incentives have an uncertain future under the current administration.

Nevertheless, reasons remain to continue adding solar power. Residential solar systems can save money on energy bills and reduce carbon emissions, thus benefiting the environment.

“Solar and storage can be built faster and more affordably than any other technology, ensuring the United States has the power needed to compete in the global economy and meet rising electricity demand,” said Abigail Ross Hopper, SEIA president and CEO, in the association’s March report. “America’s solar and storage industry set historic deployment and manufacturing records in 2024, creating jobs and driving economic growth.”