The American Clear Energy Affiliation (ACP) on Nov. 25 introduced the discharge of the inaugural Photo voltaic Market Monitor, a market evaluation of the home utility-scale photo voltaic {industry} produced by S&P World Commodity Insights. The brand new report contains projections of a record-breaking 12 months for photo voltaic, with greater than 32 GW of installations for 2024.
The brand new report marks a major milestone for ACP, increasing its portfolio of industry-specific analyses to incorporate the quickly rising photo voltaic sector.
The biannual Photo voltaic Market Monitor delivers insights into present and future photo voltaic market tendencies, masking capability, challenge economics, technological developments, coverage developments, and energy market outlooks. It presents an knowledgeable view of the {industry}’s trajectory and the important thing elements shaping the American photo voltaic sector’s progress.
Key findings from the report embrace:
- 2024 is projected to interrupt data for photo voltaic, with greater than 32 GW of challenge additions.
- The U.S. photo voltaic market is projected to develop with a Compound Annual Development Fee (CAGR) of 6.6% from 2025 to 2030, reaching 37 GW of annual new installations within the ultimate 12 months of this decade.
- Photo voltaic capital prices are anticipated to proceed lowering, with a projected 14% discount by 2035, primarily pushed by declining module costs.
- Whole installations within the U.S. are forecast to develop by 16% by 2030.
“The launch of the Photo voltaic Market Monitor represents the main function ACP performs in offering distinctive insights and evaluation for an ever-evolving photo voltaic {industry}, its development, and coverage and market challenges within the highway forward, mentioned John Hensley, Senior Vice President of Coverage & Market Evaluation at ACP. “This inaugural report highlights how photo voltaic has solidified itself as a clear and cost-competitive vitality useful resource for the U.S. Shifting ahead, this useful resource will assist the {industry} navigate the dynamic U.S. photo voltaic market.”
The report leverages S&P World Commodity Insights’ in depth information and evaluation capabilities, together with their newly launched each day photo voltaic module value assessments. This collaboration ensures that ACP members have entry to probably the most present and complete market intelligence obtainable.
“We’re excited to announce S&P World Commodity Insights’ collaboration with ACP as a clear vitality know-how information accomplice,” mentioned Eduard Sala de Vedruna, Clear Vitality Know-how Lead at S&P World Commodity Insights. “This relationship brings collectively S&P World Commodity Insights’ Analysis and Consulting groups to offer worthwhile built-in information and insights on the availability chain, know-how, and demand. We’re happy to work with ACP to offer a brand new method of measuring the event of this rising sector.”
The Photo voltaic Market Monitor might be printed biannually and is offered completely to ACP members.
—POWER edited this content material, which was contributed by the American Clear Energy Affiliation.
