What is the capacity utilization factor of a solar power plant?

The capacity utilization factor (CUF) of a solar power plant depends on several factors: The amount of solar irradiation available at the plant site is a key factor affecting CUF. Solar irradiation levels depend on the location and can vary significantly between regions and seasons.

How much did solar power cost in 2023?

Key findings from this year’s report include: 18.5 GW AC of new utility-scale PV capacity came online in 2023, bringing cumulative installed capacity to more than 80.2 GW AC across 47 states. Installed costs continued to fall in 2023. Relative to 2022, capacity-weighted averages decreased by 8% to $1.43/W AC (or $1.08/W DC).

How many GW of solar power has been added in 2024?

Over 451 GW of new solar PV capacity was added in 2024 alone, representing the largest addition of any renewable energy source and accounted for over three-quarters of all renewable capacity additions in 2024. Solar PV has accounted for the largest share of renewable power capacity in 2023, surpassing hydropower.

What is renewable power capacity?

IRENA (2025) – processed by Our World in Data The renewable power capacity data represents the maximum net generating capacity of power plants and other installations that use renewable energy sources to produce electricity. For most countries and technologies, the data reflects the capacity installed and connected at the end of the calendar year.

What is a solar capacity factor?

The capacity factor refers to the ratio of the actual energy output of a solar plant over a period of time compared to its maximum possible output if it had operated at full nameplate capacity for the same time period. It captures the plant’s utilization over time, accounting for variability and intermittency.

How many solar panels are installed in 2022?

(EIA, 2023a) reported that 140 PV installations (greater than 5 MW AC in capacity) totaling 10.3 GW AC were placed in service in 2022 in the United States. This represents an average of approximately 73 MW AC; 86% of the installed capacity in 2022 came from systems greater than 50 MW AC, and 52% came from systems greater than 100 MW AC.