U.S. solar has largest first quarter ever
- Ben Geman, author of Axios Generate
Reproduced from SEIA/Wood Mackenzie; Chart: Axios Visuals
New industry data shows the first three months of 2021 saw the addition of over 5 gigawatts of new U.S. solar power generating capacity, the largest first quarter ever.
Why it matters: It's the latest sign of the sector's expansion. The analysis projects that annual solar growth will set fresh records this year through 2024 when current tax incentives fully phase out.
But it also sees strong growth even in the following years. The White House is urging Congress to extent clean power tax credits.
Yes, but: The same analysis, however, shows how renewables are hardly immune from supply chain problems hitting multiple industries.
It notes that higher demand for solar, increased shipping costs, the microchip shortage and other problems "have led to increased commodity prices and delivery delays."
Reuters has more.