The U.S. solar industry expects to add a record 32 gigawatts (GW) of production capacity this year, up 53% on new capacity in 2022 and helped by investment incentives under the Inflation Reduction Act, a report published on Thursday showed.
32 GW is a lot. The average thermal coal generating station in the US is 1GW and these stations have an average capacity of 50%. That means that this colar prodution capacity enables us to displace 64 coal stations during the daytime if consumption does not grow.
This is the best summary I could come up with:
Sept 7 (Reuters) - The U.S. solar industry expects to add a record 32 gigawatts (GW) of production capacity this year, up 53% on new capacity in 2022 and helped by investment incentives under the Inflation Reduction Act, a report published on Thursday showed.
The report by the Solar Energy Industries Association (SEIA) and Wood Mackenzie estimated total operating solar capacity would grow from 153 GW currently to 375 GW by 2028 as supply chain challenges brought on by the COVID-19 pandemic and restrictive trade policies abate.
Increased investment in domestic manufacturing could see U.S. solar module production grow tenfold by 2026 if all new factory plans materialise, Wood Mackenzie said.
“In the year since its passage, the IRA (Inflation Reduction Act) has undoubtedly caused a wave of optimism across the solar industry,” said Michelle Davis, head of global solar at Wood Mackenzie.
The Biden administration’s 2022 Inflation Reduction Act allocates about $370 billion toward climate change and clean energy efforts, including incentives aimed at promoting solar and wind power.
The utility-scale and residential solar markets led the way with new capacity additions in the second quarter, mainly as customers in California rushed to install solar before changes to net metering rules took effect, the report said.
The original article contains 288 words, the summary contains 207 words. Saved 28%. I’m a bot and I’m open source!