Tracks record growth of solar energy in the US

The United States is the country in the world, after China, that has the largest number of solar cells. But faster growth is now expected. According to analysis agency Wood Mackenzie, in nearly five years, the country will install more solar cells than it has done in the past 50 years.

Biden with an important tax package

It is President Joe Biden’s new tax package, the inflation-reduction package, that facilitates rapid growth.

Solar energy is growing rapidly in the United States. Ill: TU Media / Erik Martiniussen

The new tax package gives the solar industry the best predictability ever, Michelle Davis, a senior advisor at Wood Mackenzie, tells Industry magazine. PV Magazine. The agency recently released a report showing that the number of solar cells will grow from 129 gigawatts today to 335 gigawatts in 2027. This is a growth rate of 1.6.

Solar power accounts for 39 percent of all newly installed capacity in the United States this year. Solar energy accounts for 4.5 percent of the US energy mix, but is therefore expected to quickly gain a larger share.

According to Wood Mackenzie, it is the investment tax credits that will now contribute to the rapid weighting.

It’s no exaggeration to say that the new tax package will usher in a new era for the US solar industry, says Michelle Davis.

Solar cells in landfills

Solar energy has experienced rapid growth in the United States in recent years. The pace of installation was particularly high in private homes, with a 37 percent growth in the second quarter of 2022 compared to the second quarter of 2021. Growth was high due to higher energy prices.

TU previously discussed the development of The largest solar park in America. The park will be established in a rural area of northern Indiana, a few miles from Chicago, and is named “Mammoth Solar” after the extinct large fur animal.

The old landfills are now giving way solar energy in the United States. It is estimated that these plants will be able to provide electricity at eight dollar cents per kilowatt-hour (¢/kWh), which equates to about 70 øre per kilowatt-hour. This will result in a total profit of $6.6 billion annually.

President Joe Biden aims to make American electricity zero-emissions by 2035.