Solar’s glowing future

Source: BY MATTHEW CHOI, Politico • Posted: Tuesday, March 16, 2021

U.S. solar power capacity is expected to quadruple with the industry having a record-setting year in 2020, according to a year-in-review report released today by the Solar Energy Industries Association and Wood Mackenzie. That forecast comes as the sector saw a banner year, despite the pandemic, in which companies installed 19.2 GW of new capacity last year. That was 43 percent higher than 2019, according to the report. Residential deployment increased 11 percent from 2019, though it was slower growth than the 18 percent in 2019 due to the pandemic.

On the back of that success, SEIA President and CEO Abigail Ross Hopper told POLITICO the trade group is hopeful the upcoming infrastructure package will focus on tax credits for the industry, as well as help build out transmission and the electrification of the transportation system. And she’s hopeful that tax credits for the industry will be made payable to the companies that earn them, at least temporarily, since the appetite for those credits in the tax equity market evaporated during last year financial downturn.

Read the full report.