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Wood Mackenzie: U.S. module capacity added in the first quarter breaks record

published: 2024-06-17 17:37

In the first quarter of this year, the United States added 11GW of new solar panel production capacity, breaking the historical record and becoming the fastest growing quarter in the history of the U.S. photovoltaic manufacturing industry.

According to the "Second Quarter 2024 U.S. Solar Market Insights" report released by the Solar Energy Industries Association (SEIA) and McKinsey on June 7, the annual production capacity of solar panels in the United States has exceeded 26GW.

In addition, 11.8GW of photovoltaic capacity was added, bringing the total installed capacity in the United States to 200GW. The industry also installed an impressive 11.8 GW of new solar capacity, bringing the total capacity in the United States to 200 GW. The report released the latest data for 2023, which showed that the United States added 40GW of photovoltaic capacity last year. McKinsey expects that the United States will add 40GW of photovoltaic capacity in 2024.

SEIA President and CEO Abigail Ross Hopper said: "The first quarter data shows that the federal government's investment in clean energy is revitalizing the U.S. manufacturing industry and strengthening the energy economy of the United States." Whether it is a $1 billion investment in a nearby solar project or a new factory hiring hundreds of local workers, the photovoltaic and energy storage industries are revitalizing the economies of states across the United States.

The sharp growth of the large-scale photovoltaic ground power station market has driven the photovoltaic industry to a record high, with the industry adding 10GW of capacity in the first quarter of this year. Large-scale ground-mounted photovoltaic power stations in Florida and Texas grew strongly, leading the nation in new photovoltaic capacity in the first quarter. Other markets such as New Mexico and Ohio also performed strongly, installing 686MW and 546MW, respectively.

Michelle Davis, global photovoltaic business director of Mackenzie and lead author of the report, said that the U.S. solar industry continues to show strength in deployment. At the same time, the continued growth of the solar industry faces many challenges such as labor supply, high-voltage equipment restrictions and continued trade policy uncertainty.

The residential photovoltaic power station segment is being fully affected by California's policy changes, and its performance is the worst quarter in two years. The commercial and community solar market remains stable year-on-year.

The residential solar market is being fully affected by California's policy changes and has experienced its worst quarter in two years. The industrial and commercial photovoltaic market remains stable year-on-year.

The total installed solar capacity in the United States is expected to double in the next five years, reaching 438GW in 2029.

Source: https://mp.weixin.qq.com/s/axthssyZ_aAcjtX2h3nxEw

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