Large-scale solar container grid profit analysis market

How will the solar market perform this year?

For utility-scale, more than half of the estimated capacity for the year is currently under construction. The pipeline of projects in late-stage development remains healthy and is expected to materialize this year. The residential solar market will experience some recovery this year, with 9% growth.

How will the residential solar market grow over the next decade?

The residential solar market will continue to grow steadily, driven by retail rate inflation, resiliency concerns, product innovation, and third-party ownership momentum with a focus on ITC adder qualification. In our Base case forecast, the segment will more than triple over the next decade, adding more than 96 GWdc by 2035. 3.2. Commercial PV

How did California's commercial solar market perform in 2024?

2024 was another record-breaking year for the commercial solar segment, with 2.1 GWdc of new capacity installed, an 8% increase from 2023. Last year, California represented 34% of the total national installed capacity, with 11% year-over-year growth, primarily due to NEM 2.0 installations coming online.

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This report (“Report”) and all Solar Market Insight® (“SMI”)TM reports are jointly owned by Wood Mackenzie and the SEIA® (jointly, “Owners”) and are protected by United States copyright and trademark laws and international copyright/intellectual property laws under applicable treaties and/or conventions.

What is a commercial solar project?

Note on market segmentation: Commercial solar encompasses distributed solar projects with commercial, industrial, agricultural, school, government, or nonprofit offtakers, including remotely net-metered projects. This excludes community solar (covered in the following section).

Will the California solar market recover in 2025?

However, Wood Mackenzie still expects some recovery for the segment in 2025, with 9% year-over-year growth. The California market will stabilize, increasing by 7% compared to 2024, as installers have gained proficiency with selling solar-plus-storage.