We keep hearing the solar industry is growing, but data from the first quarter not only show that’s true, but also by how much. The US solar industry installed 6.1 GW of solar capacity in the first quarter of 2023, its best first quarter ever, according to the Solar Energy Industries Association (SEIA).
Stabilization in supply chains and project that had been delayed moving forward were the biggest reasons for the huge quarter, said a release from SEIA.
This growth is expected to continue, due to a growth in demand because of the Inflation Reduction Act (IRA) – the US solar market is expected to triple by 2028. The Inflation Reduction Act has also kickstarted domestic manufacturing from 9 GW to an expected 60 GW by 2026.
The commercial solar market had a record first quarter, installing 391 MW, which puts that market on pace for a 12 percent growth over last year.
“As the Inflation Reduction Act begins to flex its muscle and drive demand, the U.S. 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, in a release. “Timely, specific, and workable implementation guidance from the administration will have a major impact on our success in both the near and long-term. This guidance is powerful, and if done correctly, it could unlock new market potential across the country.”
Greg Zimmerman is senior contributing editor for FacilitiesNet.com and Building Operating Management magazine.
