Solar Industry Faces Challenges Due to Pandemic and Government Policies
on solar equipment, and the coronavirus pandemic. This is according to a report released by the Solar Energy Industries Association (SEIA) and Wood Mackenzie. The report predicts that solar installations will only increase by 37% from 2020 to 2025, compared to a 54% growth from 2015 to 2020. This slowdown will result in a loss of 10.5 gigawatts of solar capacity, which is enough to power roughly 1.8 million homes. The major factor contributing to this decline is the federal government's focus on promoting traditional energy sources, such as coal and natural gas. The Trump administration's decision to impose tariffs on imported solar panels has also significantly impacted the solar industry's growth. The report also highlights the impact of the COVID-19 pandemic on the solar market, which has led to supply chain disruptions and delays in project timelines. Despite these challenges, the solar industry remains optimistic and determined to continue its growth. The report notes that the industry still expects to add 18 gigawatts of new solar capacity in 2020, making it the second-largest year for solar installations in U.S. history. The solar industry is also advocating for policies that support renewable energy, such as extending the Investment Tax Credit and lifting tariffs on solar equipment. The SEIA and Wood Mackenzie report highlights the need for continued support and attention from the government to ensure the growth of the solar industry and its contribution to the U.S. economy. As the world moves towards a more sustainable future, it is crucial for the U.S. to prioritize and invest in renewable energy sources, including solar power."
