How will trade affect the US solar industry?

The US solar industry faces a complex and evolving trade landscape that will significantly impact development over the next five years. The flurry of recent trade actions, both industry-specific and non-industry-specific, is reshaping the economics of solar projects and supply chains.

Will the solar industry continue to grow?

A significant portion of the increase came from China, which deployed around 250 GWdc of solar. Overall, analysts expect the industry to continue to grow, however the range of near-term growth projections is substantial. Notes: E = estimate; P = projection.

What challenges will the US solar industry face?

The US solar industry also faces significant challenges due to recent federal actions, including proposed changes to tax credits that would effectively make them unusable for new projects in the near term and a shift in energy priorities towards fossil fuels, creating an uncertain environment for solar growth in the coming years.

How has solar technology changed over the years?

Over the decades, efficiencies have improved, and costs have plummeted, making solar energy accessible to homeowners and businesses worldwide. As we approach 2025, here are some groundbreaking advancements in solar technology: Perovskite Solar Cells Perovskite solar cells have emerged as a potential game-changer.

Will the solar energy industry recover in 2024?

The Solar Energy Industries Association anticipates a decrease in the residential market in 2024, followed by steady upward growth in 2025 and beyond with a 10% increase each year from 2025 to 2028. Installers who adapt to changing conditions and market wisely will not only survive the slowdown but thrive as the industry recovers.

How does the US solar industry affect project economics?

Notably, despite the US solar industry’s reliance on domestically produced steel, market forces triggered an immediate increase in the domestic steel index. This unexpected rise has increased the production costs of tracker manufacturers, potentially affecting project economics. Additionally, US module manufacturers face increased frame costs.