At the end of 2023, SEIA estimates there were nearly 5 million residential PV systems in the United States. 3.3% of households own or lease a PV system (or 5.3% of households living in single-family detached structures). Sources: U.S. Energy Information Administration, “Electric Power Monthly,” forms EIA-023, EIA-826, and EIA-861.
Asia will proceed to lead the solar PV market by about 65% of the world’s PV installations (mainly China with 76% of the total), followed by North America at 15% (primarily the US with over 90% of the total) and Europe at 10% by 2030.
It is seen that the global weighted-average LCOE of solar PV technology reduced by about 89 % from 0.445 USD/kWh in 2010 to 0.049 USD/kWh in 2022. It is noticeable that the LCOE of PV technology has dropped into the range of fossil fuel electricity costs since 2014.
The production volume of electricity from solar photovoltaic power in the European Union has been steadily increasing in the last years. In 2023, the EU's solar PV power production stood at over 240 terawatt hours.
The utilization of renewable energy as a future energy resource is drawing significant attention worldwide. The contribution of solar energy (including concentrating solar power (CSP) and solar photovoltaic (PV) power) to global electricity production, as one form of renewable energy sources, is generally still low, at 3.6%.
In the following years the cost of photovoltaic (PV) panels fell, and the FIT rates for new installations were reduced in stages until the scheme closed to new applications in 2019. As of 2023, over 14.4 gigawatt (GW) had been installed, a third of which was rooftop solar.