Solar Surge: Meeting Insatiable US Power Demand
- CEO of Nextracker Inc. foresees a solar boom in the US as demand soars from data centers, electric cars, and heating systems. Solar is the cheapest and fastest-growing energy option.
The CEO of Nextracker Inc. predicts a massive buildout of solar panels in the US due to surging electricity demand from data centers, plug-in cars, and electric heating and cooling systems. Legacy fossil fuel and nuclear power plants are retiring, making solar one of the cheapest and fastest options available. US utilities are expecting the biggest rise in electricity use in a generation, with data center consumption alone set to triple by the end of the decade.
Despite delays in permitting and connecting solar farms, as well as higher capital costs, solar is the fastest growing US energy source and is forecast to expand by 26% annually through 2028. Nextracker has announced over 25 gigawatts of annual manufacturing capacity in the US, helped by tax incentives from President Joe Biden's Inflation Reduction Act.
Will solar panel buildout in the US meet surging electricity demand?
- The CEO of Nextracker Inc. predicts a massive buildout of solar panels in the US to meet surging electricity demand from data centers, plug-in cars, and electric heating and cooling systems.
- Legacy fossil fuel and nuclear power plants are retiring, making solar one of the cheapest and fastest options available to meet the increasing electricity demand.
- US utilities are expecting the biggest rise in electricity use in a generation, with data center consumption alone set to triple by the end of the decade.
- Despite delays in permitting and connecting solar farms, as well as higher capital costs, solar is the fastest growing US energy source and is forecast to expand by 26% annually through 2028.
- Nextracker has announced over 25 gigawatts of annual manufacturing capacity in the US, helped by tax incentives from President Joe Biden's Inflation Reduction Act, which will support the growth of solar energy in the country.