'Blockbuster' 2020 for United States renewables as record 16.5 GW of solar deployed

Feb 18, 2021 03:17 PM ET
  • The US renewables market got over headwinds in 2020 to post record deployment figures as well as proceed a decade-long growth pattern, a joint report from BloombergNEF (BNEF) as well as the Business Council for Sustainable Energy (BCSE) has actually exposed.
'Blockbuster' 2020 for United States renewables as record 16.5 GW of solar deployed
Image: Lightsource BP

The nine version of the Sustainable Energy in America Factbook showed solar enjoyed its best year ever in the nation, with 16.5 GW finished, up from the previous high in 2016, while a record 33.6 GW of solar as well as wind was developed.

That 16.5 GW figure is down on the 19GW estimate for 2020 US solar installs from a report published in December from the Solar Power Industries Organization and also Wood Mackenzie. Nevertheless, the new factbook said real installations "could be greater" than its published figures.

According to BNEF and also BCSE, renewables' contribution to the power grid got to a new high, increasing 11% year-on-year, to create a fifth people power in 2020.

Faced with COVID-19 as well as a sharp financial contraction, the report said the extraordinary situations of 2020 "make the sustainable energy market's achievements all the more remarkable".

" In a year when so much went sideways, it was a blockbuster year for renewable energy build and also for the very first time, a record 40% of US power eaten produced no CO2 discharges," said Ethan Zindler, BNEF's head of Americas. "Decarbonisation of US energy sped up in 2020 and the advantages will be felt for years to find."

The report said that while the pandemic had "little to no influence" on utility-scale solar building and construction activity, with a new high of 12.3 GWdc built last year, it stifled the accessibility of tax equity for PV.

Asset finance activity for new-build, large-scale United States solar rose to the highest level of the last decade, reaching US$ 23.1 billion, which is stated to represent new financial investment in solar constructed across different forms of financial debt and also equity. In regards to utility-scale PV purchase activity, 4.3 GW of commissioned ability changed hands last year, according to BNEF.

In spite of hold-ups in allowing and construction activity originating from lockdown orders throughout the US in Q2, domestic solar installations also struck a new high, with installers successfully changing to online sales techniques to get to new consumers.

International supply chain disruptions, workforce defense actions and plan unpredictability needed adjustment across the renewable resource market, claimed Lisa Jacobson, BCSE head of state. "The ongoing development of tidy energy in the USA, despite the financial slump as well as the difficulties of the pandemic, demonstrates that the market for these modern technologies is developing and also the portfolio is very resistant."

The research study also revealed that as energy demand for electricity and transport dropped, greenhouse gas exhausts sank 9% year-on-year, which "puts the United States on track to satisfy its 2025 Paris Contract dedication", though energy need as well as emissions are anticipated to rebound with widespread inoculations in 2021.