US Doubling Solar Energy Production by 2029 Will Not Be Enough

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US Doubling Solar Energy Production by 2029 Will Not Be Enough

There is massive growth in the utility-scale US solar market . It is driving record solar deployment figures as the segment added nearly 10 GW of new capacity in Q1. Florida and Texas saw strong utility-scale growth and led all states for new solar capacity in Q1. Total U.S. solar capacity is expected to double over the next five years, growing to 438 GW by 2029.

China’s solar power generation projections should reach 610.5 million kW in 2024 and an impressive 754.1 million kW in 2025. China is adding about 35 GW per quarter. In 2022, China installed roughly as much solar photovoltaic capacity as the rest of the world combined, then went on in 2023 to double new solar installations. Today, China has more than 80 percent of the world’s solar manufacturing capacity.

November 2023, Chinese climate envoy Xie Zhenhua and U.S. climate envoy John Kerry agreed on a pledge to triple renewable energy globally by 2030. This was before it was realized how AI data center energy demand could increase energy needs by 20% by 2030 and perhaps double energy needs by 2040. US doubling solar capacity by 2029 would not be keeping pace with global solar energy growth.

There are new tariffs that increase the cost of solar cells and modules imported into the US from China and other places up to 300% in some cases.

The Inflation Reduction Ac has a series of tax credits designed to bolster domestic manufacturers.

For solar modules, the credits are as follows:

Solar cells: 4 cents per direct current watt of capacity


Solar wafers: $12 per square meter


Solar grade polysilicon: $3 per kilogram


Polymeric backsheet: 40 cents per square meter


Solar modules: 7 cents per direct current watt of capacity

For inverters, the credit varies depending on the type and is applied per watt of alternating current:

Central inverter: 0.25 cents


Utility inverter: 1.5 cents


Commercial inverters: 2 cents


Residential inverters: 6.5 cents


Microinverters: 11 cents

Additionally, torque tubes for racking will receive a credit of $0.87 per kilogram, and structural fasteners will receive $2.28 per kilogram.

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