For the primary time, Texas has bumped California out of the No 1 spot for essentially the most utility-scale photo voltaic capability.
US photo voltaic’s speedy rise in simply 2 years
Including 1,656 MW in Q2 2024, Texas now boasts of 21,932 MW of on-line solar energy, in accordance with the American Clear Energy Affiliation’s “Clear Energy Quarterly Market Report | Q2 2024.”
And in accordance with the US Photo voltaic Market Perception Q3 2024 report launched at present by the Photo voltaic Power Industries Affiliation (SEIA) and Wooden Mackenzie, the US photo voltaic business put in 9.4 GW of latest electrical era capability in Q2 2024, largely because of utility-scale progress.
The Biden administration’s Inflation Discount Act (IRA), which turned legislation in 2022, has been the principle catalyst for the US photo voltaic business’s speedy rise. Photo voltaic panel manufacturing capability now exceeds 31 gigawatts (GW) — a virtually four-fold enhance beneath the IRA.
The photo voltaic business has added 75 GW of latest capability to the grid, representing over 36% of all photo voltaic capability in-built US historical past, in simply two years. Practically 1.5 million US houses have put in photo voltaic because the IRA handed.
“The photo voltaic and storage business is popping federal clear vitality insurance policies into motion by quickly creating jobs and powering financial progress in all 50 states, notably in battleground states like Arizona, Nevada, and Georgia,” mentioned SEIA president and CEO Abigail Ross Hopper.
Challenges forward
The residential photo voltaic market contracted additional in Q2 2024, because of excessive rates of interest and coverage modifications in California. Residential photo voltaic added 1.1 GW of latest capability in Q2, its lowest quarter in almost three years. Nevertheless, the residential photo voltaic market is anticipated to choose up once more in 2025 and is projected to set annual data from 2026 to 2029.
Going ahead, it received’t be easy crusing for the US photo voltaic business – it’s dealing with interconnection backlogs, electrical tools shortages, newly proposed tariff uncertainty, and labor shortages. The SEIA predicts that annual photo voltaic installations will develop at 4% on common over the following a number of years because the business grapples with these challenges.
By 2029, whole US photo voltaic capability is anticipated to double to 440 GW.
Learn extra: Enel is deploying 6,000+ sheep to eight Texas photo voltaic farms
In the event you stay in an space that has frequent pure catastrophe occasions, and are concerned about making your own home extra resilient to energy outages, take into account going photo voltaic and including a battery storage system. To be sure you discover a trusted, dependable photo voltaic installer close to you that provides aggressive pricing, take a look at EnergySage, a free service that makes it straightforward so that you can go photo voltaic. They’ve lots of of pre-vetted photo voltaic installers competing for what you are promoting, guaranteeing you get prime quality options and save 20-30% in comparison with going it alone. Plus, it’s free to make use of and also you received’t get gross sales calls till you choose an installer and share your cellphone quantity with them.
Your customized photo voltaic quotes are straightforward to check on-line and also you’ll get entry to unbiased Power Advisers that will help you each step of the way in which. Get began right here. –trusted affiliate hyperlink*
FTC: We use earnings incomes auto affiliate hyperlinks. Extra.
