The U.S. added a record-breaking 9.3 GW of recent photo voltaic module manufacturing capability within the third quarter, together with 5 new or expanded factories in Alabama, Florida, Ohio and Texas.
Whole U.S. photo voltaic module manufacturing capability is now practically 40 GW.
The newest U.S. Solar Market Insight Q4 2024 report from the Photo voltaic Power Industries Affiliation (SEIA) and Wooden Mackenzie exhibits that at full capability, U.S. photo voltaic module factories can produce sufficient gear to fulfill practically all demand for photo voltaic in the USA.
Notably, photo voltaic cell manufacturing resumed within the third quarter as silicon cells had been manufactured within the U.S. for the primary time since 2019.
The U.S. photo voltaic trade put in 8.6 GW of recent electrical energy era capability in Q3, representing a 21% year-over-year enhance and the biggest third quarter ever for the trade.
The utility-scale phase led the trade, with 6.6 GW of recent initiatives coming on-line. Utilities and companies are driving this progress as they procure important ranges of photo voltaic to fulfill rising demand for electrical energy. The industrial and neighborhood photo voltaic markets additionally skilled robust positive factors within the third quarter, rising by 44% and 12% year-over-year, respectively.
Texas continues to guide the nation in photo voltaic deployment, including 2.4 GW of capability in Q3. The Lone Star State accounts for 26% of all new capability to return on-line to this point in 2024. Florida has put in the second-most photo voltaic capability in 2024, and practically 30,000 Florida households have put in photo voltaic this yr.
Within the final two years, 1.4 million American households have used federal incentives to put in photo voltaic and decrease their vitality prices.
“Our present outlook for the subsequent 5 years has the U.S. photo voltaic trade rising 2 p.c per yr on common, reaching a cumulative whole of practically 450 GW by the top of 2029,” says Michelle Davis, head of photo voltaic analysis at Wooden Mackenzie and lead creator of the report.
“Demand for photo voltaic stays sturdy, and annual set up forecasts can be greater if not for limitations the trade faces, together with these associated to interconnection, labor availability, provide constraints, and coverage.”
Whole photo voltaic deployment in 2024 is once more anticipated to exceed 40 GW, adopted by annual set up volumes of not less than 43 GW for the rest of the last decade.
By 2029, whole U.S. photo voltaic can be sufficient to energy over 71 million houses.
