US acquired solar capacity hits 10 GW in Q2

• The United States solar market acquired a record 10 GW of utility-scale solar photovoltaic (PV) capacity in the 2nd quarter of 2022, improved by increased need after the recent flow of the Inflation Reduction Act (IRA), shows a new report by Wood Mackenzie.

The quarterly volumes represented the largest acquired capacity in a solitary trimester since 2019 and marked a jump of 201% from the very first 3 months of the year. Therefore, the nation's acquired solar pipeline reached an all-time high of 88 GW.

"The utility-scale solar sector is seeing a genuine boost of passion and investment. There are still some short-term difficulties for installations, as we continue to grapple with supply chain obstacles, but the future looks really bright," said Sylvia Leyva Martinez, senior research study expert with Wood Mackenzie.

IRA, which will certainly offer lasting tax obligation incentives for financial investment in the renewable resource market, was come on August. According to the worldwide research study as well as consultancy firm, the benefits of the law will be not that noticeable until 2025 because of the supply chain hurdles. Its projection for the US utility-scale solar market is for 437 GW of fresh capacity to be added in the period 2022-2032.

In regards to capacity implementations, the US appointed 2.7 GW of utility-scale solar installations in the 2nd quarter, or 24% more than in the coming before three months. Texas was the leader, being responsible for 53% of the total. Despite the growth, the 3 months via June were the lowest second-quarter given that 2019 in terms of utility-scale solar release as the sector is stifled by the continuous supply chain concerns, Wood Mackenzie noted.