New York Profile
New York is consistently among the nation''s top producers of hydroelectricity.
The state aims to expand its capacity by 8,923 MW over the next five years. Solar power in New York now supplies electricity to 980,034 homes, accounting for 5.01% of the state's total electricity. With a solar market valued at $11.7 billion and $1.9 billion invested in 2023, solar costs in New York have decreased by 47% in the last decade.
In 2023, the New York State Energy Research and Development Authority approved 14 new large-scale solar projects, totaling more than 1 gigawatt of capacity. According to the Solar Energy Industries Association (SEIA) in 2023, New York has a solar capacity of 5,560 MW, ranking third nationally in solar jobs with 11,512 positions.
Solar power in New York now supplies electricity to 980,034 homes, accounting for 5.01% of the state's total electricity. With a solar market valued at $11.7 billion and $1.9 billion invested in 2023, solar costs in New York have decreased by 47% in the last decade.
According to the U.S. Energy Information Administration, solar energy capacity nationwide was projected to grow by 38% from 2023 to 2024. The solar farm will help raise New York's ranking for solar energy from eighth to fifth in the nation within five years.
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