Sylvia Leyva Martinez, a senior analyst in Wood Mackenzie’s Power and Renewables team, and Shawn Rumery, senior research Director at the Solar Energy Industries Association (SEIA), discuss significant trends in the U.S. solar market in this timely Tactical Tuesday.
The quarterly SEIA/Wood Mackenzie Power & Renewables U.S. Solar Market Insight is the longest-running solar industry trends report. It has been tracking deployments across all four market segments — residential, commercial, utility-scale, and community solar — since 2010.
The U.S. Solar Market Insight Q3 2022, released in September, provides an early look at how the Inflation Reduction Act (IRA) will transform America’s energy economy. Forecasts suggest the IRA will help the U.S. solar market grow 40% over baseline projections through 2027, equal to 62 gigawatts (GW) of additional solar capacity.
Wood Mackenzie predicts the utility-scale sector will lead the solar industry’s growth during the next five years with 162 GW of new capacity. Cumulative solar installations across all market segments will nearly triple, growing from 129 GW today to 336 GW by 2027.
Today’s episode is a rebroadcast from the RE+ PowerUp Media Zone, a live production of SunCast Media.
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