New home group photo voltaic installations are anticipated to achieve 7.3 GW in current state markets by 2029, in response to the most recent report launched by Wooden Mackenzie and the Coalition for Group Photo voltaic Entry (CCSA).
Program pipelines stay sturdy in mature state markets, for now. Wooden Mackenzie forecasts the nationwide group photo voltaic market to develop at a mean annual 5% fee by way of 2026 after which contract by 11% on common by way of 2029. Expanded program capability and institution of recent state markets have the potential so as to add additional uplift past 2026.
Beneath a bull case forecast situation, Wooden Mackenzie’s five-year outlook will increase by 21% in current markets in comparison with the bottom case, whereas there’s a 20% lower beneath a bear case. Various situations don’t account for the institution of recent state markets.
In accordance with the report, 3.6 GW of group photo voltaic is predicted to serve low-to-moderate revenue subscribers by 2029. As of this yr’s first quarter, Wooden Mackenzie estimates that 829 MW of group photo voltaic straight serves LMI subscribers.
“The US group photo voltaic market has tripled in measurement since 2020, however development is starting to gradual in current state markets,” says Caitlin Connolly, senior analysis analyst at Wooden Mackenzie, and lead creator of the report.
“Moreover, the Might 2024 choice on California group photo voltaic resulted in a big 14% discount to Wooden Mackenzie’s five-year nationwide outlook. And not using a main market entrant like California, long-term group photo voltaic development will largely rely on the enactment of laws to allow new state markets.”
