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Expand chart

Additions of new U.S. solar generating capacity broke new records last year despite the COVID-19 pandemic slowing some types of projects, per new industry data.

Why it matters: It shows a surge in growth thanks to increasing cost competitiveness, but also how solar continues to benefit from supportive state and federal policies.

What's next: On the latter point, the analysis takes stock of last year's two-year extension of eligibility for federal tax incentives for building new projects.

  • That extension, part of last year's huge year-end spending and tax deal, boosted their projected 2021-2025 deployment by 17%.
  • However, as you can see above, deployment surges for years thereafter in the decade's second half, according to the report from the Solar Energy Industries Association and Wood Mackenzie.

By the numbers: 2020 saw the installation of 19.2 gigawatts of new U.S. capacity, representing 43% of all new power generating capacity additions, they said.

  • Looking forward, the report forecasts that 324 gigawatts will be added over the course of this decade.
  • "This growth will be spread across all market segments as distributed solar customers, utilities, states, and corporations push to decarbonize the grid," it states.

Go deeper

Mike Allen, author of AM
2 hours ago - World

Courage vs. coddling with China

Peng Shuai of China serves during the China Open in Beijing in 2017. Photo: Andy Wong/AP

The women's professional tennis tour suspended tournaments in China Wednesday out of concern for Peng Shuai, on the same day that a top business voice made excuses for Beijing.

Why it matters: Ahead of February's Winter Olympics in Beijing, some sports figures are taking on the regime — while Big Business shrinks from confrontation with the world's second-largest economy.

2 hours ago - Sports

What to know about the first MLB lockout since 1995

Illustration: Shoshana Gordon/Axios

Hope you enjoyed the recent flurry of free-agent activity, because it's likely the last non-lockout-related MLB news for a while.

Driving the news: The owners locked out the players after the collective bargaining agreement expired at midnight last night, leading to MLB's ninth work stoppage — and first since 1995.

Biden extends mask mandates for travelers into 2022

President Biden delivers remarks at the White House on Dec. 1. Photo: Anna Moneymaker via Getty Images

President Biden will announce new testing protocols for international travelers on Thursday and extend masking requirements through March as the U.S. prepares to fight the Omicron variant this winter, according to senior administration officials.

Driving the news: The U.S. will tighten pre-departure testing protocols starting early next week by requiring all inbound international travelers to take COVID-19 tests within one day of their departure rather than three.