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.
The quarterly SEIA/Wood Mackenzie Power & Renewables U.S. Solar Market InsightTM report shows the major trends in the U.S. solar industry. Learn more about the U.S. Solar Market Insight Report. Released March 17, 2020.
According to Wood Mackenzie Power & Renewables, an extension of the solar investment tax credit would result in an additional 82 gigawatts (GW) of solar deployment over the next ten years, which would drive $87 billion in economic investment and create 113,000 U.S. solar jobs.
This roadmap offers a vision for the radical transformation of the nation’s energy system. It articulates where the solar industry stands today, sets the industry’s goal for the next decade and outlines the steps we must take to get there. The roadmap explains how the solar industry will expand exponentially from comprising 2.4% of the U.S. electricity mix today to 20% of all U.S. electricity generation by 2030.