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US research institute Wood Mackenzie said the US has already crossed the 100GW solar capacity mark and is expected to grow further, but long-term policy certainty is needed to support the pace
of deployment.
According to the latest quarterly report released by the solar industry association SEIA and Wood Mackenzie, the domestic solar market has doubled in size in the past 3-4 years
.
Driven by the Investment Tax Credit ITC, this trend will continue over the next three years
.
Analysts expect 160 GW of solar projects to come online between 2021 and 2026, which will bring the country's cumulative PV installed capacity to more than
250 GW by the end of 2026.
However, installers are currently facing supply constraints due to rising module costs, which will also affect the coming quarters
.
"There is a lag
between commodity prices and subsequent solar system prices.
But there is no doubt that this is affecting the solar industry
.
Installers are coping with the current equipment shortage and have to decide whether to renegotiate the contract
.
”
The US added a record 5GW of solar PV capacity in the first quarter of 2021, up 46% from a year ago, with solar accounting for 58%
of all new capacity.
Installations in the utility-scale segment accounted for 3.
6GW of quarterly deployments, while the residential segment accounted for 905 MW
.
By state, Texas leads in terms of new installed capacity with 1.
52 GW
.
Other states in the top five are Indiana, Virginia, Michigan, and Iowa
.
US research institute Wood Mackenzie said the US has already crossed the 100GW solar capacity mark and is expected to grow further, but long-term policy certainty is needed to support the pace
of deployment.
According to the latest quarterly report released by the solar industry association SEIA and Wood Mackenzie, the domestic solar market has doubled in size in the past 3-4 years
.
Driven by the Investment Tax Credit ITC, this trend will continue over the next three years
.
Analysts expect 160 GW of solar projects to come online between 2021 and 2026, which will bring the country's cumulative PV installed capacity to more than
250 GW by the end of 2026.
However, installers are currently facing supply constraints due to rising module costs, which will also affect the coming quarters
.
"There is a lag
between commodity prices and subsequent solar system prices.
But there is no doubt that this is affecting the solar industry
.
Installers are coping with the current equipment shortage and have to decide whether to renegotiate the contract
.
”
The US added a record 5GW of solar PV capacity in the first quarter of 2021, up 46% from a year ago, with solar accounting for 58%
of all new capacity.
Installations in the utility-scale segment accounted for 3.
6GW of quarterly deployments, while the residential segment accounted for 905 MW
.
By state, Texas leads in terms of new installed capacity with 1.
52 GW
.
Other states in the top five are Indiana, Virginia, Michigan, and Iowa
.
