In Q1 2024, the US noticed the biggest quarter of photo voltaic manufacturing development in its historical past, bringing its complete put in capability to 200 GW.
A record-setting 11.8 gigawatts (GW) of recent photo voltaic panel manufacturing capability got here on-line within the US throughout Q1 2024, making up 75% of all new electricity-generating capability added to the US grid in that interval.
In line with the US Photo voltaic Market Perception Q2 2024 report launched in the present day by the Photo voltaic Power Industries Affiliation (SEIA) and Wooden Mackenzie, complete US photo voltaic panel manufacturing capability elevated to 26.6 GW in Q1 2024 in comparison with 15.6 GW in This fall 2023. As soon as this capability absolutely ramps up, it is going to be sufficient to produce about 70% of US demand.
The report additionally accommodates new information exhibiting that the US added over 40 GW of recent photo voltaic capability in 2023 – greater than initially reported. Wooden Mackenzie now initiatives that the US photo voltaic trade will set up one other 40 GW in 2024.
“This quarter proves that new federal investments in clear vitality are revitalizing American manufacturing and strengthening our nation’s vitality financial system,” mentioned SEIA president and CEO Abigail Ross Hopper. “Whether or not it’s a billion-dollar funding in a close-by photo voltaic venture 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.”
Utility-scale photo voltaic noticed file photo voltaic deployment figures because the phase added practically 10 GW of recent capability in Q1. Florida (2.7 GW) and Texas (2.6 GW) noticed robust utility-scale development and led all states for brand new photo voltaic capability in Q1. Different states like New Mexico and Ohio additionally had robust quarters, putting in 686 and 546 megawatts (MW), respectively.
“The US photo voltaic trade continues to point out power by way of deployments,” mentioned Michelle Davis, head of world photo voltaic at Wooden Mackenzie and lead creator of the report. “On the similar time, the photo voltaic trade faces quite a few challenges to its continued development, together with availability of labor, excessive voltage tools constraints, and continued commerce coverage uncertainty.”
The US residential photo voltaic phase is feeling the complete weight of dangerous coverage selections in California and skilled its worst quarter in two years. The business and neighborhood photo voltaic markets remained regular year-over-year.
Complete US photo voltaic capability is anticipated to greater than double over the following 5 years, rising to 438 GW by 2029.
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