Solar energy consumption in the US has shown significant growth from 2013 to 2023, reaching 2.3 Exajoules in 2023. The year-on-year growth peaked in the early years, with an 81.5% increase in 2014, but gradually slowed to a 19.0% increase by 2023. The Compound Annual Growth Rate (CAGR) also decreased over the decade, from 68.5% in 2014 to 20.7% in 2023.
Future trends indicate a continued but slower growth rate, with a forecasted five-year CAGR of 9.1%, resulting in an estimated 54.2% overall growth by 2028. This suggests increasing but moderating adoption and integration of solar energy technologies in the coming years.
Future trends to watch for:
- Advances in solar technology efficiency
- Policy changes promoting renewable energy
- Integration of solar with storage solutions
- Market dynamics and competitive landscape shifts
