The solar energy sector in the United States is experiencing a historic surge in growth. In the first half of 2024 alone, the U.S. has installed over 207 gigawatts (GW) of solar capacity, with projections indicating the addition of 40 GW by the end of the year, matching the record-setting totals of 2023. This expansion solidifies solar as the fastest-growing energy source in the nation, with expectations to become the largest source of electricity on the grid by 2050.
North Carolina is emerging as a key player in this national solar boom. According to recent data from the Solar Energy Industries Association (SEIA), the state ranks fourth in the nation for solar installations in 2024. Abigail Ross Hopper, SEIA President and CEO, said North Carolina has always been a powerhouse in the sector. “North Carolina is currently number four in the nation for solar installed in 2024."
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The state’s impressive solar capacity of nearly 10 GW supplies over 9% of its electricity needs, powering approximately 1.2 million homes. The economic impact is substantial, with the solar industry supporting over 7,000 jobs and injecting $13 billion into the state's economy.
Despite the impressive growth, the solar industry faces several challenges. Hopper pointed out that one major hurdle is consumer awareness. “Sometimes customers are working with outdated information. They may think solar is too expensive or not accessible,” she explained. “There is also sometimes a challenge in getting solar built and connected, which is why we work to ensure utilities like Duke Energy are facilitating customer choices.”
Duke Energy spokesperson Bill Norton says the utility recently received NC Utilities Commission approval to expand our Green Source Advantage program, through which municipalities and large business can benefit from renewable energy sources connected to the Duke Energy grid. And for residential customers, our innovative Power Pair pilot program, launched in May, has already seen more than 1,800 customers sign up to receive incentives for new solar paired with storage.
"Solar continues to be an important part of our diverse resource mix along with nuclear and natural gas," Norton said. "To meet near-term load growth projections, we conducted a solar competitive bidding process in 2023 that resulted in 18 winning utility-scale projects totaling more than 1,400 megawatts of solar and over 250 megawatts of paired batteries. For 2024, we’re targeting 1,585 megawatts of solar and 400 megawatts of paired batteries."
Federal incentives have played a critical role in spurring solar adoption. “Over $100 billion of private investment in the past two years has been driven by strong federal policy,” Hopper noted. This support has made a significant difference for consumers, businesses, and municipalities alike. Recent polling indicates that 90% of Americans support increased solar deployment, reflecting its growing acceptance as a key component of the nation’s energy future.
Hopper emphasized that the rapid decrease in solar costs is making it a more attractive option for many. “The prices of solar technology have come down quickly, much like other technology sectors. The majority of people who choose solar do so because it saves them money on their electricity bills,” she said.
Hopper also addressed the concept of virtual power plants (VPPs), which aggregate multiple solar and storage systems to function as a large, efficient energy source. “Virtual power plants are a critical part of the solution set for meeting growing electricity demand,” she explained. “They allow us to use solar and storage as one large battery, which is incredibly efficient.”
The first half of 2024 has marked a pivotal moment for the U.S. solar industry, with North Carolina standing out as a significant contributor. As solar technology continues to evolve and expand, the benefits for both consumers and the economy are becoming increasingly apparent, paving the way for a cleaner and more sustainable energy landscape.
“North Carolina, despite some challenges, is doing a lot right in its solar efforts. We need to keep building on this momentum to drive adoption and ensure a sustainable energy future,” Hopper said.