Avantus’ Post

A record-setting 11 gigawatts (#GW) of new solar module manufacturing capacity came online in the #UnitedStates during Q1 2024, the largest quarter of solar manufacturing growth in #American history. According to the U.S. Solar Market Insight Q2 2024 report released today by the Solar Energy Industries Association (#SEIA) and Wood Mackenzie, total U.S. solar module manufacturing capacity now exceeds 26 GW annually. In addition, the industry also installed an impressive 11.8 GW of new solar capacity, bringing total capacity to 200 GW in the United States. The report also contains new data from 2023, showing that the United States added over 40 GW of new solar capacity last year. Wood Mackenzie now projects that the U.S. solar industry will install another 40 GW in 2024. “This quarter proves that new federal investments in clean energy are revitalising #American manufacturing and strengthening our nation’s energy economy,” said SEIA president and CEO Abigail Ross Hopper. “Whether it’s a billion-dollar investment in a nearby #solarproject or a new manufacturing plant employing hundreds of local workers, the solar and storage industry is uplifting communities in every state across this country.” Massive growth in the utility-scale market is driving record solar deployment figures as the segment added nearly 10 GW of new capacity in Q1. #Florida and #Texas saw strong utility-scale growth and led all states for new solar capacity in Q1. Other markets like #NewMexico and #Ohio also had strong quarters, installing 686 and 546 megawatts (MW), respectively. “The U.S. solar industry continues to show strength in terms of deployments,” said Michelle Davis, head of global solar at Wood Mackenzie and lead author of the report. “At the same time, the solar industry faces a number of challenges to its continued growth including availability of labor, high voltage equipment constraints, and continued trade policy uncertainty.” The residential solar segment is feeling the full weight of policy changes in #California and experienced its worst quarter in two years. The commercial and community solar markets remained steady year-over-year. Total U.S. solar capacity is expected to double over the next five years, growing to 438 GW by 2029.

The U.S. now has #5MillionSolar installations — thanks to the more than 263,000 American #solar and #storage workers. Solar powers high-quality jobs from coast to coast, and we’re not slowing down. As the Inflation Reduction Act encourages even more homes and businesses to go solar, the economic opportunities the industry delivers will only continue to grow. Read more about the latest solar news from the @Solar Energy Industries Association: https://hubs.ly/Q02xqzw70

✅ U.S. solar companies like Nextracker and Array Technologies are ramping up their manufacturing capabilities in response to booming demand. ✅ Nextracker has more than doubled its contract with JM Steel, aiming for approximately 4 GW of yearly torque tube production. ✅ Array Technologies is investing over $50 million in a new manufacturing facility in New Mexico, resulting in 300+ new jobs. Solar energy is making incredible strides in the U.S., significantly powered by the operations of national solar companies like Nextracker and Array Technologies, both of which are amplifying their manufacturing efforts in response to soaring demand. In 2023, the U.S. installed an impressive 32.4 GW of solar power - a remarkable 51% increase from the previous year. To meet this escalating demand, Nextracker, originally from Pittsburgh, has now more than doubled its contract with JM Steel. This ambitious plan will propel their operations to around 4 GW of yearly torque tube production, thanks to advanced manufacturing methods like automated drilling and swedging. 🛠️ Array Technologies, based in New Mexico, is likewise making commendable strides in the industry. Joined by the U.S. Secretary of Energy, Jennifer Granholm, for its groundbreaking ceremony, Array's new $50 million manufacturing site in New Mexico, its second in the state, will create over 300 jobs! 🏗️ This growing commitment from top U.S. solar companies underscores the strength and expansion of the American solar industry, making the whole prospect of solar powered homes even more appealing. For more information on selling solar virtually across the USA visit www.tstpros.com ☀️🌐

Solar had a record-shattering 2023. The Solar Energy Industries Association and Wood Mackenzie's Solar Market Insight report shows the U.S. added a record 32.4 GW of new solar capacity in 2023 — 37% more than the previous record. And, for the first time in history, solar accounted for more than 50% of all new electricity capacity added to the grid. Learn more about the industry's incredible momentum: https://bit.ly/3wPnm4n

**Basking In The Sun: Breaking New Frontiers with Solar Power in North America** ✅ **Massive Projects:** Read about the highly successful operation of some of the largest solar projects in North America, which are becoming vital sources of power to thousands of homes and businesses. ✅ **Corporate Involvement:** See how prominent companies such as Verizon and Polaris are taking strides towards sustainable power practices by partnering with solar projects. ✅ **Positive Impact on Local Economies:** Discover the incredible economic benefits that these solar projects bring to their local communities. This post delves into two major solar projects, the Fencepost solar project and the Texas Solar Nova project, that have become game-changers in North America. Both projects, developed by Enel and Clearway Energy Group respectively, are setting remarkable benchmarks in reaching new heights with solar. The Fencepost project brings together solar generation and storage, bringing 297 MW of solar power to the Texas grid. It is made unique through its partnerships with big-name brands, such as Polaris, signaling a promising link between the solar companies and corporate entities. The Texas Solar Nova project, developed by Clearway Energy Group, hosts a massive 452 MW solar array, generating enough power to energize over 190,000 homes annually. More importantly, these projects have shown considerable economic benefits. Fencepost will contribute $35.6 million in local tax revenue while Solar Nova is looking at $5.4 million in its first year alone. For more information on selling solar virtually across the USA visit www.tstpros.com 🌞

The growth of solar energy is truly astounding... over 50% of new electricity generating capacity is now solar and with panel efficiencies increasing and costs reducing, this trend is set to continue for the next few years. There is, however, a challenge on the horizon... will we have enough of the critical materials to maintain this level of growth? Silver is the most commonly used electrode material, and the solar industry is already consuming a significant proportion of annual supply. Some analysts predict that we will have consumed all currently known supplies by 2050...

**Basking In The Sun: Breaking New Frontiers with Solar Power in North America** ✅ **Massive Projects:** Read about the highly successful operation of some of the largest solar projects in North America, which are becoming vital sources of power to thousands of homes and businesses. ✅ **Corporate Involvement:** See how prominent companies such as Verizon and Polaris are taking strides towards sustainable power practices by partnering with solar projects. ✅ **Positive Impact on Local Economies:** Discover the incredible economic benefits that these solar projects bring to their local communities. This post delves into two major solar projects, the Fencepost solar project and the Texas Solar Nova project, that have become game-changers in North America. Both projects, developed by Enel and Clearway Energy Group respectively, are setting remarkable benchmarks in reaching new heights with solar. The Fencepost project brings together solar generation and storage, bringing 297 MW of solar power to the Texas grid. It is made unique through its partnerships with big-name brands, such as Polaris, signaling a promising link between the solar companies and corporate entities. The Texas Solar Nova project, developed by Clearway Energy Group, hosts a massive 452 MW solar array, generating enough power to energize over 190,000 homes annually. More importantly, these projects have shown considerable economic benefits. Fencepost will contribute $35.6 million in local tax revenue while Solar Nova is looking at $5.4 million in its first year alone. For more information on selling solar virtually across the USA visit www.tstpros.com 🌞

Solar in the US is breaking more records so far in 2024 and is tipped to go hit new heights before the year is out! Solar accounted for 75% of electricity generation capacity added to the U.S. power grid early this year as installations rose to a quarterly record, according to a report published by Wood Mackenzie and the Solar Energy Industries Association. https://hubs.ly/Q02BtgF_0 Great news for our great industry!

A cautionary tale about over building solar and the quickly diminishing value of the energy produced hindering further growth. I think some of the stats within the article about rooftop solar production should cause pause and careful consideration to those thinking of buying their own systems under any kind of net metered rate (like building enough solar to cover 106% of summer demand from 9-3 only corresponds to covering 33% of total summer demand). The value of the energy produced will likely be much less than used in most installer's calculations... #pv #solar #supplyanddemand #netmetering https://lnkd.in/dvXTJnYA

Wood Mackenzie expects total US solar operating solar capacity to grow from 153GW today to 375GW by 2028: The US solar industry is on track to add a record 32GW of new capacity in 2023, a 52% increase from 2022, according to the Solar Energy Industries Association (SEIA) and Wood Mackenzie. The solar market has been hampered in recent years by supply chain challenges brought on by covid-19 and exacerbated by restrictive trade policy. These challenges are beginning to abate, and as policies in the Inflation Reduction Act (IRA) take hold, Wood Mackenzie expects total operating solar capacity to grow from 153GW today to 375GW by 2028 in the US Solar Market Insight Q3 2023 report. “The United States is now a dominant player in the global clean energy economy, and states like Florida, Texas, Ohio, and Georgia are at the forefront of this job growth and economic prosperity,” said SEIA president and CEO Abigail Ross Hopper. “The solar and storage industry is delivering abundant clean energy that is generating tens of billions of dollars of private investment, and this is just the tip of the iceberg.” A surge of new domestic manufacturing investments is also expected to improve supply conditions over the next few years. If these factory announcements materialise, by 2026 US solar module manufacturing output will be ten times greater than it is today. The utility-scale and residential solar markets led the way with new capacity additions in Q2, growing by 3.3GW and 1.8GW, respectively. The commercial solar market declined in Q2 primarily due to project interconnection backlogs and a hesitancy to move forward with projects before having full clarity on the IRA’s tax credit adders. Despite these challenges, increasing energy prices in certain states is driving demand in the commercial solar market, and the sector is expected to grow by 11% in 2023. Florida continues to dominate the 2023 state solar rankings, installing 2.5GW of new capacity in the first half of this year. This is 52% more than the next highest state of California and already more solar capacity than Florida has ever installed in a single year.