Photo voltaic module manufacturing capability in america now exceeds 31 GW, based on the U.S. Photo voltaic Market Perception Q3 2024 report, launched by the Photo voltaic Power Industries Affiliation (SEIA) and Wooden Mackenzie.
The report provides that this represents an almost four-fold improve for the reason that IRA grew to become legislation in 2022, with federal clear vitality insurance policies persevering with to drive manufacturing and deployment development because the trade put in 9.4 GW of recent era capability on this yr’s Q2.
For the reason that IRA was enacted, the photo voltaic trade has added 75 GW of recent capability to the grid.
“The photo voltaic and storage trade is popping federal clear vitality insurance policies into motion by quickly creating jobs and powering financial development in all 50 states, notably in battleground states like Arizona, Nevada and Georgia,” says SEIA president and CEO Abigail Ross Hopper.
“We are actually manufacturing historic quantities of photo voltaic vitality in America, and shortly, we could have sufficient home module manufacturing to provide almost all U.S. demand for years to return.”
The report provides that Texas continues to steer the nation with 5.5 GW of photo voltaic capability put in within the first half of 2024, whereas the residential photo voltaic market continued to contract in Q2 on account of coverage modifications in California and excessive rates of interest nationally.
The sector added 1.1 GW of recent capability in Q2, its lowest quarter in almost three years. Nonetheless, the report expects the residential photo voltaic market to see development once more subsequent yr.
