Renewable energy installations fell to the lowest level in years in the US thanks to confusion about federal energy policies.
. “Quarter one of 2022 was the largest first quarter on record by far for grid scale installations, a notable milestone since installations are typically back-weighted to the second half of the year. The West Coast and Southwest regions continue to dominate for both standalone and hybrid systems,” said Vanessa Witte, senior analyst with Wood Mackenzie’s energy storage team.
Despite significant growth, ACP says near-term risks remain for the grid scale market. Market disruption from the anti-dumping and countervailing duties solar tariff investigation initiated by the Department of Commerce in March lowered projections for hybrid projects significantly in 2022, and to a lesser extent in 2023, as procurement stalled.for two years restores predictability to both the solar and energy storage markets.
Residential storage also had its strongest quarter to date with 334 MWh installed in Q1, beating the previous quarterly record of 283 MWh in Q4 of last year. “Despite challenging supply conditions continuing to suppress residential storage, the segment saw over 20,000 installations in a single quarter for the first time and we’re seeing large and small installers forge new vendor partnerships to help meet rising customer demand,” said Chloe Holden, analyst with Wood Mackenzie.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Let us know: Are you having trouble paying your FPL, Clay Electric, or Beaches Energy bill?We want to hear from you. Are you having trouble paying your FPL, Clay Electric, or Beaches Energy bill?
Read more »
South Korean conglomerate to spend $22B on U.S. projects, including semiconductor, green energyThe SK Group, South Korea’s second-largest conglomerate, announced Tuesday that it will spend $22 billion in the United States to fund semiconductor, green energy and bioscience projects.
Read more »
US economy shrinks again, indicating the US could be headed toward recessionThe White House in a statement ahead of the release of Thursday’s figures pushed back on talks of a recession.
Read more »
Extending U.S. Investment Tax Credits Through 2050 Increases U.S. Solar Generation By 10%Extending investment tax credits (ITC) and production tax credits (PTC) through 2050 for renewable electricity generation increases annual U.S. solar generation by 10%,
Read more »
U.S. jobless claims retreat after hitting highest level in eight monthsInitial jobless claims fell by 5,000 to 256,000 in the week ended July 23, the Labor Department said Thursday. The number of people already collecting jobless benefits fell by 25,000 to 1.36 million.
Read more »
GBP/USD holds steady above mid-1.2000s post-US data, focus remains on FOMCGBP/USD holds steady above mid-1.2000s post-US data, focus remains on FOMC – by hareshmenghani GBPUSD RiskAppetite EconomicIndicator Fed Currencies
Read more »