The 10 Largest Solar Companies In The United States
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The largest solar company in the U.S. is NextEra Energy, with a revenue of $20.956 billion and a market share of 2.37%.
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As of 2023, the U.S. solar industry has a market size of $12 billion.
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U.S. jobs like Solar Technician are projected to grow by 27% through 2031.
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The U.S. solar industry is expected to grow at a CAGR of 17.3% through 2027.
For over a century, the United States relied heavily on fossil fuels for energy. However, as awareness of climate change intensifies, a significant shift towards renewable energy sources is underway.
Solar energy, the most abundant energy resource globally, harnesses the sun’s energy through photovoltaic technology. Essentially, the sun acts as a massive nuclear reactor, radiating vast amounts of energy to Earth.
Solar panels capture this energy, making it available for various applications. While solar energy is renewable, clean, and abundant, its adoption has been gradual. Fortunately, decreasing costs of solar technologies have made solar power increasingly viable for both commercial and residential use.
The U.S. has invested significantly in solar energy research, and California is home to the world’s oldest solar power plant. As the focus on renewable energy intensifies, states across the country are prioritizing solar initiatives. For instance, Hawaii aims to achieve 100% renewable electricity by 2045.
Top Solar-Energy Companies in the United States
Who are the key players in the solar energy landscape of the United States? The following companies are making significant advancements in solar and renewable energy, positioning themselves for future growth. This list is presented in no particular order.
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Juno Beach, Florida
2022 Annual Revenue: $20.956 billionIn a landmark moment for the solar sector, NextEra Energy surpassed Exxon in October 2020, becoming the most valuable U.S. energy company. This growth signifies a robust trend in the solar and renewable energy market.
NextEra focuses on delivering clean energy throughout North America, offering sustainable solutions to evolving energy demands. Apart from solar energy, the company also provides wind, nuclear, and natural gas power.
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Portland, Oregon
2022 Annual Revenue: $7.923 billionAs demand for utility-scale solar generation rises, Avangrid is poised to become a leading player in the industry. Their vertically integrated approach ensures reliable, cost-effective renewable energy solutions.
Previously known as Iberdrola Renewables, Avangrid operates under its parent company Iberdrola, based in Spain, and focuses on wind, thermal, biomass, and solar energy in the U.S.
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Tempe, Arizona
2022 Annual Revenue: $2.619 billionFirst Solar emphasizes risk reduction while delivering dependable and cost-effective solar solutions. With a commitment to research and development, they’re advancing solar technology to enhance energy yield and facilitate stable grid integration.
Recently, First Solar shifted focus to manufacturing solar panels, after transferring a significant portion of its project assets to Leeward Renewable Energy.
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Silicon Valley, California
2022 Annual Revenue: $1.74 billionSunPower has established itself as a leader in the commercial solar sector since 2017, providing sustainable solutions across residential and business markets. With over 1,000 patents to its name, SunPower emphasizes innovation in solar technology.
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Cypress Creek Renewables
Research Triangle Park, North Carolina
2021 Annual Revenue: $232 millionCypress Creek Renewables is dedicated to powering a sustainable future by developing, financing, operating, and owning utility-scale and distributed power plants across the U.S., with over 8 gigawatts of solar developed.
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Recurrent Energy
2021 Annual Revenue: $191 million
Recurrent Energy specializes in utility-scale solar and energy storage solutions, targeting large energy buyers. As a subsidiary of Canadian Solar, Inc., they are expanding their solar options across the United States.
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8minutenergy
2021 Annual Revenue: $163 million
8minutenergy focuses on making solar energy affordable and reliable, securing significant funding to expand their development efforts in the solar sector.
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EcoPlexus, Inc.
San Francisco, California
2022 Annual Revenue: $72.4 millionEcoPlexus offers a comprehensive range of services for solar projects, from development to operations, and has a presence in multiple countries, emphasizing global access to cleaner energy.
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Leeward Renewable Energy
Dallas, Texas
2022 Annual Revenue: $26 millionLeeward Renewable Energy, expanding from wind energy into solar, is strategically growing following its acquisition of significant assets from First Solar.
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Sustainable Power Group (sPower)
Salt Lake City, Utah
2022 Annual Revenue: $23.19 millionsPower operates as an independent power producer, focusing on the development and operation of solar and wind projects across the United States.
Solar Industry FAQ
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What is the biggest solar company in the United States?
The biggest solar company in the U.S. is NextEra Energy. With a 2022 revenue of $20.956 billion, NextEra Energy leads the U.S. solar market, followed by Avangrid with $7.923 billion.
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Is the solar industry growing?
Yes, the solar industry is experiencing significant growth. The sector is projected to achieve a CAGR of 17.3% through 2027, with job opportunities for solar technicians increasing by 27% through 2031.
Final Thoughts
The solar power sector and other renewable energy initiatives are poised for substantial growth in the coming years. The focus on green energy aims to mitigate climate change and promote a healthier planet.
Advancements in solar technology have made it a cost-effective energy solution, now competing with traditional fossil fuels. As the industry continues to evolve, the benefits of solar energy will outweigh traditional energy sources, leading to the growth and success of solar companies while many conventional energy firms struggle to adapt.
Author
Kristin Kizer is an award-winning writer, television and documentary producer, and content specialist who has worked on a wide variety of written, broadcast, and electronic publications. A former writer/producer for The Discovery Channel, she is now a freelance writer and delighted to be sharing her talents and time with the wonderful Zippia audience.
