Short answer: NextEra Energy Resources owns the most operating solar in the US, with about 19.7 GW according to Enerdatics, which tracks ownership of more than 9,400 US utility-scale solar projects. AES (about 6.8 GW), RWE (about 6.4 GW) and Clearway Energy (about 4.7 GW) follow among utility-scale owners. Sunrun leads residential solar, with about 4.6 GW spread across more than 600,000 rooftop systems.
How Enerdatics solves this
See your rivals' moves before the market does: Enerdatics tracks who your competitors advise, buy from, build for, supply and fund. Company profiles pull every deal, project and financing into one view, updated as new records land. Ownership changes every quarter, and Enerdatics shows who owns each plant today, who just bought it and who may sell next, so you reach owners before the next sale, refinancing or repowering goes to market.
Enerdatics tracks 9,439 operating US utility-scale solar projects with about 205 GW of capacity, and 93 M&A deals for operating US solar announced since January 2024. Available through CoreData, Stack dashboards, Leap AI and API.
Key takeaways
- NextEra Energy Resources owns about 19.7 GW of operating US solar in Enerdatics data, nearly three times the next owner.
- AES, RWE and Clearway Energy each own between 4.6 GW and 6.9 GW of operating US solar.
- Sunrun owns about 4.6 GW of operating solar, almost all of it in more than 600,000 residential systems.
- Financial owners such as DESRI, Ares Management and Capital Dynamics now rank among the 20 largest US solar owners.
- Operating solar keeps changing hands: Enerdatics records 93 deals for operating US solar announced since January 2024.
Who owns the most operating solar in the US?
NextEra Energy Resources, the competitive arm of NextEra Energy, is the largest owner by a wide margin. Enerdatics records about 19.7 GW of operating US solar under its ownership, of which about 0.3 GW is distributed generation.
Distributed generation means small systems on rooftops, carports or local sites, usually connected to the local grid rather than to high-voltage transmission. Utility-scale solar means large ground-mounted plants that sell power into the wholesale market or to a utility.
AES is second at about 6.8 GW and RWE third at about 6.4 GW. Clearway Energy follows at about 4.7 GW. Dominion Energy, a regulated utility, owns about 3.9 GW, and Invenergy about 3.6 GW.
Below that, the field is tight. Silicon Ranch, ENGIE, EDP Renewables, DESRI, Enel and Origis Energy each own between 3.0 GW and 3.4 GW.
For context, total US solar capacity can now power more than 50 million homes, according to SEIA and Wood Mackenzie. Utility-scale plants made up most of the 11.4 GW of solar installed in the second quarter of 2026.
Is the ranking different for residential solar?
Yes. Sunrun owns about 4.6 GW of operating solar in Enerdatics data, enough to rank fifth overall. But nearly all of it sits in more than 600,000 residential systems, so it competes in a different market from the utility-scale owners above.
Residential owners earn revenue from long-term leases and power contracts with households. Utility-scale owners earn from power purchase agreements (PPAs), contracts to sell electricity at an agreed price to a utility or company, or from wholesale power markets.
Community solar sits between the two. These are local projects that sell credits to subscribers who cannot install panels themselves.
Which types of companies own US solar?
Three groups dominate. The first is independent power producers (IPPs), companies that own power plants and sell electricity but do not run a regulated utility. NextEra Energy Resources, AES, RWE, Invenergy and Clearway fit this group.
The second is regulated utilities, which own plants inside their service areas and recover costs through rates approved by state regulators. Dominion Energy and Duke Energy, which owns about 2.4 GW, are examples.
The third is financial owners such as private equity firms, infrastructure funds and asset managers. DESRI owns about 3.2 GW, Ares Management about 2.9 GW and Capital Dynamics about 2.5 GW. MN8 Energy, formerly Goldman Sachs Renewable Power, owns about 3.0 GW.
Financial owners also buy whole platforms, as in the KKR acquisition of EDF's North American business, which combined operating solar, wind and storage with a development team. Others buy operating plants with long contracts already in place. A recent example is Norges Bank's $425 million stake in a 2.3 GW North American portfolio.
How fast is ownership of US solar changing?
Quickly. Enerdatics records 93 deals for operating US solar announced since January 2024. Altus Power was the most frequent buyer with nine deals, followed by Ares Management and Brookfield with four each.
Tax rules add pressure. Under IRS Notice 2025-42, solar projects that begin construction after July 4, 2026 must be placed in service by the end of 2027 to claim the 48E investment tax credit or the 45Y production tax credit. Owners with operating fleets and construction-ready projects gain value as new build gets harder.
That is why the ranking moves every quarter. Use current ownership data, not old press releases, when you map who controls a market.
| Rank | Owner | Operating solar MW | Of which distributed MW | Utility-scale MW |
|---|---|---|---|---|
| 1 | NextEra Energy Resources | 19,726 | 322 | 19,404 |
| 2 | AES Corp | 6,844 | 245 | 6,599 |
| 3 | RWE | 6,361 | 87 | 6,274 |
| 4 | Clearway Energy | 4,674 | 49 | 4,625 |
| 5 | Sunrun | 4,641 | 4,641 | 0 |
| 6 | Dominion Energy | 3,893 | 0 | 3,893 |
| 7 | Invenergy | 3,643 | 9 | 3,635 |
| 8 | Silicon Ranch | 3,352 | 0 | 3,352 |
| 9 | ENGIE | 3,285 | 103 | 3,182 |
| 10 | EDP Renewables | 3,268 | 67 | 3,201 |
Source: Enerdatics Leap, US operating solar projects and distributed generation by current owner, active records as of November 2026.
Enerdatics records about 205 GW of operating US utility-scale solar across 9,439 projects. The ten owners in the table hold about 54 GW of that utility-scale capacity, roughly a quarter, so most US solar still sits with owners outside the top ten.
Frequently asked questions
Which company owns the most solar in the US? NextEra Energy Resources owns the most, with about 19.7 GW of operating US solar in Enerdatics data. AES and RWE follow, each with between 6 GW and 7 GW.
Who owns the most residential solar in the US? Sunrun is the largest residential owner, with about 4.6 GW across more than 600,000 systems in Enerdatics data. That puts it fifth among all US solar owners by operating capacity.
Do utilities own much US solar? Some do, but independent power producers own more. Dominion Energy owns about 3.9 GW and Duke Energy about 2.4 GW, against NextEra Energy Resources at about 19.7 GW.
Are private equity firms major US solar owners? Yes. DESRI, Ares Management, Capital Dynamics and MN8 Energy each own between 2.5 GW and 3.3 GW of operating US solar in Enerdatics data.
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