Texas #2 in U.S. for Solar Panel Output, Yet Financial Returns Lag Globally
Did you know that 7% of homes in the U.S. have solar? By 2030, this number is projected to grow to over 15% of U.S. homes. ¹
Despite this growth, a new study from energy experts at Compare the Market finds that the U.S. is among the countries benefiting the least financially from residential solar adoption.
Here are some key insights from the study:
- The U.S. has some of the highest average solar installation costs globally, at $2,800 per kW installed.
- With residential electricity prices averaging $0.18 per kWh, American homeowners earn less from self-generated power than countries like the U.K., where prices reach $0.40 per kWh.
- However, the U.S. ranks among the top countries for solar output, generating 1,594.5 kWh per kW installed annually.
The Countries Benefitting the Most Financially from Solar Panels:
| Rank | Country | Annual Solar Output (kWh per kW installed) | Average Installation Cost (USD per kW installed) | Residential Electricity Price (USD per kWh) | Solar Potential Score (0–100) |
| 1 | Hungary | 1254.4 | $2,638.90 | $0.11 | 26.85 |
| 2 | South Korea | 1434.7 | $2,918.50 | $0.13 | 31.57 |
| 3 | China | 1192 | $1,688.90 | $0.08 | 36.2 |
| 4 | South Africa | 1720.4 | $3,369.70 | $0.19 | 42.71 |
| 5 | United States | 1594.5 | $2,800.00 | $0.18 | 45.57 |
| 6 | Mexico | 1765.8 | $2,645.00 | $0.11 | 47.91 |
| 7 | Argentina | 1655.8 | $2,107.40 | $0.08 | 48.98 |
| 8 | France | 1319.8 | $2,397.00 | $0.28 | 49.77 |
| 9 | United Kingdom | 967.2 | $2,200.00 | $0.40 | 50.05 |
| 10 | Bulgaria | 1376.7 | $1,634.30 | $0.15 | 51.87 |
While these national averages provide a broad overview, a closer look at state-level data reveals significant variation in solar panel uptake across the U.S:
- Texas ranks #2, generating enough solar energy to power 5,799,035 homes.
- Residents of California generate the most solar power, enough to power a potential 15,708,178 homes across the state.
- Florida is #3, with solar power capable of powering 2,426,230 homes.
The States Generating the Most Solar Energy:
| Rank | State | Potential Homes Powered by Solar ² |
| 1 | California | 15,708,178 |
| 2 | Texas | 5,799,035 |
| 3 | Florida | 2,426,230 |
| 4 | Arizona | 1,631,421 |
| 5 | Nevada | 1,380,839 |
| 6 | New York | 1,275,692 |
| 7 | North Carolina | 1,180,076 |
| 8 | Illinois | 1,022,842 |
| 9 | Colorado | 997,102 |
| 10 | New Mexico | 980,229 |
| 11 | New Jersey | 955,619 |
| 12 | Massachusetts | 947,900 |
| 13 | Georgia | 905,352 |
| 14 | Utah | 867,577 |
| 15 | Virginia | 824,278 |
You can view the full global dataset here: https://www.comparethemarket.
Sources: