Forecasts from the U.S. Solar Energy Industries Association (SEIA) show sustained growth through 2030.

RYAN KENNEDY | Source: PV Magazine | Posted 12/12/2024

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Solar energy continues to charge ahead, increasingly becoming an essential part of the energy mix both globally and in the United States. The U.S. Solar Energy Industries Association (SEIA) reported that in Q3 2024, the nation installed 8.6 GW of solar capacity, setting a new Q3 record and climbing 21% compared to Q3 2023.

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Solar energy is making significant strides in the U.S., with 8.6 GW of solar capacity installed in Q3 2024, setting a new record and representing a 21% increase over the previous year. Solar energy accounted for 64% of new electricity-generating capacity added to the grid in the first three quarters of 2024, with enough capacity to power approximately 37 million homes in the United States.

The Inflation Reduction Act of 2022 has provided long-term policy certainty for the solar industry, supporting growth through tax credits and manufacturing incentives. Despite this growth, challenges such as interconnection issues, procurement of high voltage power equipment, and labor availability remain barriers to faster expansion. SEIA forecasts annual solar installations of 40-45 GW through 2029, with the goal of reaching 800 GW of solar capacity by the end of the decade to achieve a 40% solar energy mix.

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Source Link: https://pv-magazine-usa.com/2024/12/11/five-charts-forecasting-the-future-for-solar-energy/

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Forecasts from the U.S. Solar Energy Industries Association (SEIA) show sustained growth through 2030.

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