The world is building renewable energy faster than ever before

Renewable energy didn’t just grow last year — it expanded at a pace not seen in years.

An estimated 507 gigawatts of renewable electricity were added to grids around the world in 2023 — a new record, and an almost 50 percent year-over-year increase from 2022. That’s the fastest growth rate renewable additions have seen in over two decades.


The Utilities in the United States seem to be booming but residential is flat. That should tell you why Enphase is having such a problem now.

Chart: The US installed more solar in 2023 than ever… | Canary Media.


Hi @buynholdisdead,

My belief for this is interest rates.

With high borrowing rates, people are less likely to add solar since the pay-off period based on investment vs electricity cost savings is longer.

ENPH has been dropping heavily again with the “gaming” of how many rate cuts this year and how many total basis points will be removed this year.

With the transport problems through the Red Sea have escalated, oil prices have been rising, adding to our inflation rate again, so maybe fewer rate reductions.

Higher for Longer, again …

Does that help you?

All holdings and some statistics on my Fool profile page (Click Expand)


It’s not just interest rates, it’s also political moves that make residential solar less attractive.

Oil prices don’t appear to be rising. In fact, they appear to have dropped slightly since the Red Sea/Suez issues began.

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I agree Gene but I think it also has to do with Nem 2.0 to Nem 3.0 in California where they changed the rate of compensation for people who have solar. Most of the solar was being sold in California for residential installations.