According to recent research data released by the U.S. Energy Information Administration (EIA), the U.S. solar market is expected to add 29.1GW of utility-scale solar photovoltaic systems and 9.4GW of energy storage systems by 2023.

In the EIA's latest annual Electric Generator Monthly Update report (EIA-860M), some utility-scale solar photovoltaic projects in 2022 were postponed due to trade issues arising from the U.S. Unforced Labor Protection Act (UFLPA). However, the EIA anticipates a rebound in the U.S. solar market this year, provided that all these projects come online as planned. It is projected that the 2023 capacity additions for utility-scale solar photovoltaic systems will be more than twice the 13.4GW added in 2021.

Since 2010, the utility-scale solar photovoltaic installation capacity in the U.S. has experienced rapid growth. Despite an upward trend over the past decade, the capacity dropped by 23% in 2022 compared to 2021, a result attributed to the UFLPA trade issues, broader disruptions in the supply chain, and other challenges related to the COVID-19 pandemic.

EIA researchers forecast that by 2023, the installed solar photovoltaic systems in Texas (7.7GW) and California (4.2GW) will represent 41% of the U.S.'s new solar system installation capacity.

In recent years, the U.S. energy storage market has seen rapid development and is currently eligible for a 30% investment tax credit under the guidelines of the Inflation Reduction Act. According to the U.S. Energy Information Administration's estimates, the installed capacity of battery energy storage systems in the U.S. could more than double by 2023. Energy storage developers plan to install an additional 9.4GW of battery energy storage systems on top of the existing 8.8GW.

As the utility-scale solar photovoltaic and wind power markets continue to develop, the U.S. battery energy storage market is experiencing rapid growth. Battery energy storage systems can store excess electricity generated by intermittent patterns of wind power generation facilities and photovoltaic systems for later use. The EIA forecasts that 71% of the energy storage systems installed in the U.S. in 2023 will come from California and Texas, which both possess rich solar and wind resources. Arizona Public Service Company and Florida Power & Light Company are the two largest energy storage system off-takers in the coming year, with the installation capacity of each battery energy storage project ranging from 16MW to 50MW. AES Corporation and Hawaiian Electric Company are each procuring 30MW and 36MW of battery energy storage systems respectively.

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