The Solar Energy Industry Association (SEIA) announced on the 4th (local time) that it broke its all-time record by adding 9.3 gigawatts (GW) of recent solar module capability within the third quarter.
That is the results of steadily supporting the country’s solar energy industry and securing competitiveness because the Biden administration took office. The US succeeded in increasing solar module manufacturing capability to 40GW by constructing and expanding five factories in Alabama, Florida, Ohio, and Texas.
Specifically, it’s evaluated that the U.S. solar energy manufacturing sector has reached a brand new turning point, with silicon solar cell production happening for the primary time since 2019 within the third quarter of this yr.
SEIA President Abigail Ross Hofer said, “America’s energy security is strengthening resulting from solar-related federal policies and increased private investment, and jobs proceed to be created.” She added, “Economic advantages from solar energy by securing market share from overseas competitors.” “We’ll attempt to return to this community,” he said.
In the USA, solar manufacturing capability has steadily increased because the implementation of the Inflation Reduction Act (IRA). This yr’s installed solar energy capability alone reached 32GW, and the variety of solar energy plants installed within the third quarter was 8.6GW, a 21% increase in comparison with last yr.
Solar energy prices are also expected to steadily decline by 14% until 2035.
Last month, solar chips were included within the Semiconductor Support Act (CHIPS), and support is being strengthened, with key solar components reminiscent of wafers and ingots receiving a 25% tax credit. Wood Mackenzie predicted that the U.S. solar energy industry will grow by 2% over the following five years, and that the cumulative installed capability will reach 450GW by 2029.
Meanwhile, President-elect Donald Trump has repeatedly stated that he’ll abolish climate policies as promised. For that reason, the outlook for the U.S. renewable energy industry stays unclear.
Reporter Jaeseung Lee energy@aitimes.com
