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Florida and Texas cost forward on photo voltaic installs whereas California stumbles because of coverage modifications
WASHINGTON, D.C. — A record-setting 11 gigawatts (GW) of recent photo voltaic module manufacturing capability got here on-line in america throughout Q1 2024, the most important quarter of photo voltaic manufacturing development in American historical past.
In response to the U.S. Photo voltaic Market Perception Q2 2024 report launched right this moment by the Photo voltaic Vitality Industries Affiliation (SEIA) and Wooden Mackenzie, complete U.S. photo voltaic module manufacturing capability now exceeds 26 GW yearly.
As well as, the trade additionally put in a powerful 11.8 GW of recent photo voltaic capability, bringing complete capability to 200 GW in america. The report additionally accommodates new information from 2023, displaying that america added over 40 GW of recent photo voltaic capability final yr. Wooden Mackenzie now initiatives that the U.S. photo voltaic trade will set up one other 40 GW in 2024.
“This quarter proves that new federal investments in clear power are revitalizing American manufacturing and strengthening our nation’s power economic system,” stated SEIA president and CEO Abigail Ross Hopper. “Whether or not it’s a billion-dollar funding in a close-by photo voltaic undertaking or a brand new manufacturing plant using a whole bunch of native staff, the photo voltaic and storage trade is uplifting communities in each state throughout this nation.”
Large development within the utility-scale market is driving document photo voltaic deployment figures because the section added practically 10 GW of recent capability in Q1. Florida and Texas noticed robust utility-scale development and led all states for brand spanking new photo voltaic capability in Q1. Different markets like New Mexico and Ohio additionally had robust quarters, putting in 686 and 546 megawatts (MW), respectively.
“The U.S. photo voltaic trade continues to indicate energy when it comes to deployments,” stated Michelle Davis, head of world photo voltaic at Wooden Mackenzie and lead writer of the report. “On the similar time, the photo voltaic trade faces quite a lot of challenges to its continued development together with availability of labor, excessive voltage tools constraints, and continued commerce coverage uncertainty.”
The residential photo voltaic section is feeling the total weight of coverage modifications in California and skilled its worst quarter in two years. The business and neighborhood photo voltaic markets remained regular year-over-year.
Complete U.S. photo voltaic capability is predicted to double over the subsequent 5 years, rising to 438 GW by 2029.
Courtesy of The Photo voltaic Vitality Industries Affiliation® (SEIA).
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