WASHINGTON, DC – A record-setting 11 gigawatts (GW) of latest photo voltaic module manufacturing capability got here on-line within the United States throughout Q1 2024, the biggest quarter of photo voltaic manufacturing development in American historical past. .
According to the US Solar Market Insight Q2 2024 report launched at present by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, the overall US photo voltaic module manufacturing capability now exceeds 26 GW per 12 months.
In addition, the trade additionally put in a formidable 11.8 GW of latest photo voltaic capability, bringing the overall capability to 200 GW within the United States. The report additionally contains new knowledge from 2023, displaying that the United States added greater than 40 GW of latest photo voltaic capability final 12 months. Wood Mackenzie now tasks that the US photo voltaic trade will set up one other 40 GW by 2024.
“This quarter proves that new federal investments in clear power are revitalizing American manufacturing and strengthening our nation’s power financial system,” mentioned SEIA president and CEO Abigail Ross Hopper. “Whether it is a billion-dollar funding in a close-by photo voltaic venture or a brand new manufacturing plant that employs a whole bunch of native employees, the photo voltaic and storage trade energizes communities in each state throughout the nation.”
Widespread development within the utility-scale market drove photo voltaic deployment numbers because the section added practically 10 GW of latest capability in Q1. Florida and Texas noticed sturdy utility-scale development and led all states for brand new photo voltaic capability in Q1. Other markets reminiscent of New Mexico and Ohio additionally had sturdy quarters, putting in 686 and 546 megawatts (MW), respectively.
“The US photo voltaic trade continues to indicate energy by way of deployment,” mentioned Michelle Davis, head of world photo voltaic at Wood Mackenzie and lead writer of the report. “At the identical time, the photo voltaic trade faces many challenges to its continued development together with labor availability, excessive voltage tools constraints, and continued commerce coverage uncertainty.”
The residential photo voltaic section felt the complete brunt of California’s coverage adjustments and skilled its worst quarter in two years. The industrial and neighborhood photo voltaic market stays regular 12 months over 12 months.
Total US photo voltaic capability is anticipated to double over the following 5 years, rising to 438 GW by 2029.
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About SEIA®:
The Solar Energy Industries Association® (SEIA) is main the transition to a clear power financial system, creating the framework for photo voltaic to attain 30% of US electrical energy era by 2030. SEIA companions with its 1,000 member firms and different strategic companions to struggle for insurance policies that create jobs in each neighborhood and form honest market guidelines that promote competitors and the expansion of dependable, inexpensive which is solar energy. Founded in 1974, SEIA is the nationwide commerce affiliation for the photo voltaic and photo voltaic+storage industries, constructing a complete imaginative and prescient for the Solar+ Decade by way of analysis, training and advocacy. Visit SEIA on-line at www.seia.org and observe @SEIA on Twitter, LinkedIn and Instagram.
Media Contact:
Morgan Lyons, Director of Communications at SEIA, [email protected] (202) 556-2872
