US solar players have hailed the country’s landmark Inflation Reduction Act (IRA), signed into law by President Joe Biden this week, as a once-in-a-generation legislation that lays the groundwork for accelerated PV deployment and a significant ramp-up in domestic manufacturing.
The US solar market experienced its worst quarter for installations since the start of the pandemic in Q1 2022, weighed down by regulatory and supply chain issues.
The drive to electrify Sub-Saharan Africa will require US$350 billion of investment and could reveal an alternative vision for the energy transition that focuses on a decentralised, bottom-up solar-and-storage rich grid that takes advantage of cheap solar power, according to research firm Wood Mackenzie.
US solar deployment reached a record high in 2021, but with volatile commodity prices and supply chain uncertainty leading to project delays and cancellations, utility-scale additions are set to contract this year.
Community solar deployment in the US is set to be boosted by support programmes and clean energy commitments from state governments, according to Wood Mackenzie, which has increased its install projections in spite of interconnection challenges facing the segment.
Proposed changes to California’s net metering (NEM) incentive programme will severely reduce residential PV’s value proposition in the state, cutting its solar market in half by 2024, Wood Mackenzie has warned.
The US solar sector is set to post record deployment figures this year, but ongoing supply chain constraints, logistical challenges and price increases are expected to dent additions in 2022, a new report has said.
