“U.S. shipments of solar photovoltaic (PV) modules (solar panels) rose to a record electricity-generating capacity of 28.8 million peak kilowatts (kW) in 2021, from 21.8 million peak kW in 2020, based on data from our Annual Photovoltaic Module Shipments Report. Continued demand for U.S. solar capacity drove this increase in solar panel shipments in 2021…

“The cost of solar panels has declined significantly since 2010. The average value (a proxy for price) of panel shipments has decreased from $1.96 per peak kW in 2010 to $0.34 per peak kW in 2021. Despite supply chain constraints and higher material costs in 2021, the average value of solar panels decreased 11% from 2020.”

Key Stats

Source: 2020 County Business Patterns (CBP).

Table CB2000CBP, All Sectors: County Business Patterns, including ZIP Code Business Patterns, by Legal Form of Organization and Employment Size Class for U.S., States, and Selected Geographies: 2020, showing these 24 Codes:

NAICS 2211, Electric Power Generation, Transmission and Distribution
NAICS 22111, Electric Power Generation
NAICS 221111, Hydroelectric Power Generation
NAICS 221112, Fossil Fuel Electric Power Generation
NAICS 221113, Nuclear Electric Power Generation
NAICS 221114, Solar Electric Power Generation
NAICS 221115, Wind Electric Power Generation
NAICS 221116, Geothermal Electric Power Generation
NAICS 221117, Biomass Electric Power Generation
NAICS 221118, Other Electric Power Generation
NAICS 22112, Electric Power Transmission, Control, and Distribution
NAICS 221121, Electric Bulk Power Transmission and Control
NAICS 221122, Electric Power Distribution
NAICS 2212, Natural Gas Distribution
NAICS 2371, Utility System Construction
NAICS 23712, Oil and Gas Pipeline and Related Structures Construction
NAICS 23713, Power and Communication Line and Related Structures Construction
NAICS 3334, Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing
NAICS 335, Electrical Equipment, Appliance, and Component Manufacturing
NAICS 3351, Electric Lighting Equipment Manufacturing
NAICS 3352, Household Appliance Manufacturing
NAICS 3353, Electrical Equipment Manufacturing
NAICS 3359, Other Electrical Equipment and Component Manufacturing
NAICS 33591, Battery Manufacturing

Note: The table above is modified to show just one “All establishments” row for each NAICS code and is cropped at the bottom after NAICS 335. Click on the image for the full table.

More Stats

Source: Manufacturers’ Shipments, Inventories and Orders (M3) survey (1992-2022).

Turbines, Generators, and Other Power Transmission Equipment: U.S. Total – Value of Shipments

Electrical Equipment, Appliances and Components: U.S. Total – Value of Shipments

Electrical Equipment Manufacturing: U.S. Total – Value of Shipments

Battery Manufacturing: U.S. Total – Value of Shipments

Source: Quarterly Financial Report (QFR) (2000-2022).

Electrical Equipment, Appliances, and Components: U.S. Total — Income (Loss) After Income Taxes

Source: Quarterly Services Survey (QSS) (2010-2022).

2211: Electric Power Generation, Transmission and Distribution: U.S. Total – Total Revenue

2212: Natural Gas Distribution: U.S. Total – Total Revenue

Source: 2018 - 2020 Annual Survey of Manufacturers (ASM).

Table AM1831BASIC01, Annual Survey of Manufactures: Summary Statistics for Industry Groups and Industries in the U.S.: 2018 - 2020, showing these 7 Codes:

NAICS 3334, Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing
NAICS 3336, Engine, Turbine, and Power Transmission Equipment Manufacturing
NAICS 335, Electrical Equipment, Appliance, and Component Manufacturing
NAICS 3351, Electric Lighting Equipment Manufacturing
NAICS 3352, Household Appliance Manufacturing
NAICS 3353, Electrical Equipment Manufacturing
NAICS 3359, Other Electrical Equipment and Component Manufacturing

Source: 2017 Annual Business Survey (ABS) Program.