Solar Market Sets New Record In 1st Quarter In USA
Solar power is going strong again in the USA, and the first quarter set a new record for the amount of solar power that was installed in the first quarter of a year. In total, 6.1 gigawatts of solar power capacity were installed last quarter, according to the latestThe report from the Solar Energy Industries Association and Wood Mackenzie indicates that the boost in growth was in large part thanks to supply chain challenges working themselves out more.
“This quarter, the Biden administration provided some clarity on how the landmark law’s adder credits will be applied. The law contains new credits that can be used in conjunction with the solar Investment Tax Credit, like the domestic content, energy communities, and low-income adder credits. In particular, the energy communities and low-income adder guidance will help drive solar and storage investment in underserved communities.
“As the Inflation Reduction Act begins to flex its muscle and drive demand, the US solar and storage industry is eagerly awaiting further guidance on some of the most impactful pieces of the law,” said Abigail Ross Hopper, SEIA president and CEO. “Timely, specific, and workable implementation guidance from the administration will have a major impact on our success in both the near and long-term.
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