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Home News Industry News U.S. Solar and Storage System Installations and Investments to See Unprecedented Growth

U.S. Solar and Storage System Installations and Investments to See Unprecedented Growth

  • December 18, 2023
In recent years, the United States has made substantial progress in embracing the renewable energy revolution, positioning itself on the path to a more sustainable future. This shift is driven by a variety of factors including environmental concerns, economic opportunities and technological advances.

With the Inflation Reduction Act (IRA) and the Bipartisan Infrastructure Act (BIL), the United States is accelerating its move toward clean energy solutions.

In 2022, the share of renewable energy sources (RES), including hydropower, in the country's electricity generation has reached approximately 22%; furthermore, the share of RES in total electricity generation has increased to approximately 30%.

It is worth noting that in the transportation sector, consumers are also becoming more aware and increasingly choosing zero-emission fuels such as electric vehicles. EUPD Research estimates that battery electric vehicles (BEVs) will account for 5.6% of new car registrations in 2022, with this share having surged to 7.1% in the first half of 2023.

The United States has ambitious goals, including achieving 100% carbon pollution-free electricity by 2035 and striving to achieve economy-wide net-zero greenhouse gas emissions no later than 2050. The targets are expected to provide a major boost to the clean energy industry in the country, further strengthening its commitment to a sustainable and environmentally responsible future.

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