The US solar industry is set to continue breaking annual installation records in the coming years despite supply chain constraints that have led to higher prices as well as disruptions caused by the government’s withhold release order (WRO), according to new research.
Liam Stoker recaps recent policy moves in the US and explores the difficult balancing act President Biden must now face between stimulating domestic solar manufacturing in the US and supporting solar deployment.
Annual investment in solar and wind generation in the Asia Pacific region could double to US$1.3 trillion by 2030 compared to the previous decade, with policy targets and cost declines boosting growth, according to research firm Wood Mackenzie.
New solar capacity installations in the US are expected to rise 43% this year as the industry recovers from the worst impacts of the COVID-19 pandemic, according to a new study by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.
China’s newly announced ambition to reach carbon neutrality by 2060 and peak carbon emissions before 2030 looks set to spur on investment in solar and battery storage technology, as the country diversifies its power mix away from coal.