- SEIA counts close to 19 GW of corporate solar contracted solar power capacity installed in the US till June 2022
- Rapid expansion of off-site commercial solar since 2019 is a major contributing factor as it accounts for 55% of all commercial solar use
- Major contracts were signed by Meta that grew its total contracted solar capacity by over 380% from 2019 to 3.58 GW
- The IRA will further boost both on-site and off-site installations going forward
Till June 2022, solar power capacity contracted by American corporates added up to nearly 19 GW capacity in the US, accounting for 14% of all installed solar capacity in the country, with Meta leading the pack, according to Solar Means Business 2022 report of the US Solar Energy Industries Association (SEIA).
Comprising both on-site and off-site solar, the overall capacity has gone up fast from 9.4 GW till the end of 2019, thanks mainly to the growth in off-site corporate solar procurement. The latter now represents 55% of all commercial solar use.
The 9th edition of this annual report sees commercial solar growing further, expecting installations in this space doubling over the next 3 years with nearly 27 GW of off-site projects with corporate offtakers to come online by 2025. Amazon alone accounts for over 10 GW of this capacity.
Overall, this nearly 19 GW capacity generates 28.8 million MWh of clean energy annually, enough to power 3.2 million homes, and reduce CO2 emissions by 20.4 million metric tons every year.
In terms of corporates, Meta leads with 3.58 GW installed through June 2022, representing over 380% growth since 2019-end. It accounts for close to 3% of all solar installed in the country. SEIA expects the social media giant to stay put on top with several more of its projects scheduled to come online in the years to come.
Amazon follows next with 1.11 GW, trailed by Apple with 987 MW, Walmart with 689 MW and Microsoft with 551 MW, in the top 5. Retailers Target and Walmart lead in the number of individual solar systems installed.
What drove the growth of commercial corporate solar expansion is the decline of 51% in the price of solar energy over the last decade guided by corporates pursuing decarbonization goals. Going forward, the Inflation Reduction Act (IRA) will support the growth of the off-site segment by 51%, and that of on-site solar by 24% over the next 5 years.
“Solar Means Business highlights the incredible flexibility of solar, whether it’s installed on a warehouse roof, on a carport or at an off-site facility, showing the various ways that companies are meeting their needs with clean, affordable energy,” said SEIA President and CEO Abigail Ross Hopper. “From data centers to industrial freezers, the most energy-intensive business operations are turning to solar as the most reliable and affordable way to power their infrastructure.”
The complete report can be downloaded from the dedicated website for Solar Means Business here.