Power and Renewables

Top 10 Solar Developers in US  

byEnverus

In the United States, the adoption of solar photovoltaic (PV) technology continues to rise, following recent market investment from the Inflation Reduction Act. The U.S. Energy Information Administration reveals that in 2022, approximately 10.9 GW (gigawatts) of new solar PV capacity became operational, a 19% decline from 2021, largely attributed to supply chain challenges. 

According to Enverus Foundations™ | Power & Renewables Project Tracking Analytics, this trend of capacity deployment is projected to continue its upward trajectory. This growth is propelled by the comparatively lower cost of generating electricity from solar PV when compared to other alternative energy sources, and by companies diversifying their energy portfolios across different sources. It is worth noting that the forces of energy evolution will play a significant role in influencing future growth. 

As the overall production from solar PV continues to expand, so does the potential for investment opportunities. Below, you’ll find a list of the top 10 U.S. solar developers ranked by total capacity (in megawatts) they pushed into operational status in 2022 as of October 2023, available through the Enverus Foundations™ | Power & Renewables:

Source: Enverus Foundations™ | Power & Renewables Project Tracking Analytics, top 10 solar developers in 2022  

Out of the projects these top 10 developers brought into operations. Majority of the MW’s were in ERCOT as image below shows. MISO, PJM, and CAISO were next markets that these developers focused on. 

Source: Enverus Foundations™ | Power & Renewables Project Tracking Analytics, top 10 solar developers (2022)

Now, lets take a look at what these developers have in the queue for the next few years. The top 10 solar developers in 2022 seems like they also have a good amount of MW’s in the queue right now. The first image shows the aggregate MW’s these developers have in the queue right now.

Source: Enverus Foundations™ | Power & Renewables Project Tracking Analytics, Queued projects for top 10 solar developers (2022)

ERCOT was the main market these developers brought their projects operational into in 2022. Their queued projects follows the same trend with ERCOT hosting the majority of the MW’s as the image below shows. MISO, PJM and NYISO follows ERCOT as the next three major markets for the permitted projects.

Source: Enverus Foundations™ | Power & Renewables Project Tracking Analytics, Queued projects for top 10 solar developers (2022)

As we look into when these projects are expected come on line with the image below, majority of the projects have a 2024 and 2025 first power date (COD). The image shows that there is already a substantial amount of MW’s under construction to become operational in 2024 and 2025. It will be interesting to see, how much more capacity by these developers can become operational in the next 2 years as the queue back-logs are becoming a real problem.

Source: Enverus Foundations™ | Power & Renewables Project Tracking Analytics, Queued projects for top 10 solar developers (2022)

1. Nextera Energy Resources

Power brought online: 923 MW

Projects: 18

A subsidiary of NextEra Energy, Inc., NextEra Energy Resources is a trailblazer in developing, constructing and operating renewable energy projects. Its contributions have played a pivotal role in expanding clean energy sources across the United States.

2. Cypress Creek Renewables

Power brought online: 769 MWs

Projects: 17

Cypress Creek Renewables is a solar energy company with a significant portfolio of projects across the United States. Notably, Cypress Creek Renewables has a strong community engagement strategy, partnering with local stakeholders to ensure that its solar installations align with community needs and values.

3. Recurrent Energy

Power brought online: 490 MW

Projects: 2

Recurrent Energy is a prominent solar project developer known for its expertise in utility-scale solar installations. The firm is focused on innovative financing solutions, enabling it to deliver cost-effective solar power projects to communities and businesses.

4. AP Solar Holdings LLC

Power brought online: 477 MW

Projects: 1

AP Solar Holdings LLC made a mark with its noteworthy solar capacity additions in 2022. Notably, its distinctive approach involves collaborating with educational institutions to create solar installations that not only generate clean energy but also serve as educational platforms for the next generation of renewable energy enthusiasts.

5. Savion

Power brought online: 460 MW

Projects: 3

Savion made waves in the solar development arena, contributing significantly to the U.S. megawatt surge. Its unique contribution lies in its focus on repurposing underutilized land and transforming it into productive solar farms, showcasing their commitment to sustainable land use practices.

6. Lightsource BP

Power brought online: MW

Projects: 2

Lightsource BP solidified its position as a solar industry leader by adding an impressive 451 megawatts online in the US. Distinguished for their global footprint, they stand out with their integrated approach, seamlessly combining solar projects with battery storage solutions for enhanced reliability.

7. Florida Power & Light Company

Power brought online: 447 MW

Projects: 6

A stalwart in the energy landscape, Florida Power & Light Company brought substantial solar megawatts online. Notably, its commitment extends to innovative solar research, including advanced technologies that enhance solar efficiency in hot and humid climates.

8. Silicon Ranch Corporation

Power brought online: 383 MW

Projects: 8

Silicon Ranch Corporation emerged as a solar power leader, ranking in the 2022 megawatt race. Its unique approach includes establishing solar projects in close collaboration with local communities, fostering sustainable development and widespread support for renewable energy.

9. EDF Renewable Energy

Power brought online: 330 MW

Projects: 7

EDF Renewables North America is a market-leading independent power producer and service provider with over 35 years of experience. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company’s PowerFlex affiliate, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids.

10. National Grid Renewables

Power brought online: 324 MW

Projects: 2

National Grid Renewables, part of the competitive, unregulated National Grid Ventures division of National Grid (NYSE: NGG), develops, owns and operates large-scale renewable energy assets across the United States, including solar, wind and battery storage. As a farmer-friendly and community-focused business, National Grid Renewables develops projects for corporations and utilities that seek to repower America’s electricity grid by reigniting local economies and reinvesting in a sustainable, clean energy future. National Grid Renewables has a robust development pipeline of wind, solar and battery storage projects in various stages of development throughout the United States, as well as geographically diverse operational assets across the country. It supports National Grid’s vision of being at the heart of a clean, fair and affordable energy future for all.

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