COVID-19 Impacts on the U.S. Solar Industry
Like many American industries, the solar industry has been hit hard by COVID-19. Compounding issues, including supply chain delays, tightening of tax equity markets, homeowners’ financial concerns, shelter-in-place orders, and permitting challenges are all placing tremendous pressure on the industry. Without strategic government action, U.S. jobs and economic investment will suffer. With the right policies in place, the solar industry is poised to lead the U.S. out of this economic recession and create jobs for thousands of Americans.
WASHINGTON, D.C. – New analysis shows that the U.S. solar industry will employ 114,000 fewer workers by June 2020, compared to previous forecasts that projected the industry would employ 302,000 Americans over the same time period. With an expected workforce of 188,000 people, this job loss will take the industry back to 2014 levels as a result of the COVID-19 crisis. Keep Reading
- Due to the COVID-19 pandemic, the outlook for solar has changed dramatically. Through June of 2020, the industry will employ 188,000 workers, rather than the 302,000 that was originally forecasted – a 38% decline.
- These losses would negate 5 years of solar industry growth, pushing the workforce back to a level not seen since 2014.
- The U.S. will install just 3 gigawatts (GW) of solar capacity in Q2 2020 - a 37% decline from pre-COVID forecasts.
- The Q2 solar deployment losses are equivalent to powering 288,000 homes and $3.2 billion in economic investment.