U.S. Solar Set for First-Quarter Buildout Amid Trade Disputes
Attachment: US solar 1Q23
SUGAR LAND--December 16, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--The global need for renewable-energy technology is clashing with concerns about China's labor practices. New U.S. solar installations are expected to see a 23% drop for 2022--including a 40% drop for utility-scale projects--from the previous year, according to a recent report, citing restrictions on imported panels. Nonetheless, solar plays a leading role in near-term renewable installations.
Of the roughly $28 billion worth of U.S.-based renewable projects set to begin construction in the first quarter of 2023, more than $22 billion (about 83%) is attributed to solar. More than $13 billion of that is for projects with a medium-to-high (70% or more) likelihood of beginning construction as currently scheduled. Texas leads all other U.S. states with about $3.5 billion worth of first-quarter solar kickoffs, including two from Greenalia S.A., a European renewable-energy producer that entered the U.S. market last year.
Other companies featured: Solar Energy Industries Association, Wood Mackenzie, Innovative Solar Systems LLC and NextEra Energy Incorporated (NYSE:NEE).
