According to a new analysis released by the Solar Energy Industries Association (SEIA) on August 16, 2023, since the Inflation Reduction Act (IRA) was signed into law in August 2022, U.S. solar and storage companies have announced over $100 billion in private sector investments.[1] These investments include the construction or expansion of 51 solar manufacturing facilities in the last year. The new and expanded solar factories equal 155 GW of new production capacity across the solar supply chain, including 85 GW of solar module capacity, 43 GW of solar cells, 20 GW of silicon ingots and wafers, and 7 GW of inverter capacity. The analysis found that by 2026, the U.S. will have over 17 times its current manufacturing capacity across modules, cells, wafers, ingots, and inverters when the factories are in operation.

According to SEIA, 65 GWh of energy storage manufacturing capacity has been announced across 14 new or expanded facilities. In addition, over 3 GW of new large-scale energy storage projects have been deployed, and an estimated 100,000 customers have installed a residential solar system paired with battery storage. Solar manufacturing facilities announced that they will employ more than 20,000 people. Over the next decade, the solar industry will generate $565 billion in private sector investments over the next decade and by 2033, U.S. solar capacity will reach 668 GW, enough to power every home east of the Mississippi River.

[1] https://www.seia.org/blog/policy-prosperity-solar-supercharging-american-communities-after-one-year-energy-incentives