Will the solar industry continue to grow?

A significant portion of the increase came from China, which deployed around 250 GWdc of solar. Overall, analysts expect the industry to continue to grow, however the range of near-term growth projections is substantial. Notes: E = estimate; P = projection.

How many solar modules are there in the US?

The US added 8.6 GW of solar module manufacturing capacity in Q1, bringing the total to 51 GW. However, growth in upstream manufacturing capacity remains slow or non-existent. ES Foundry became just the second domestic cell manufacturer when it opened a 1 GW cell factory in South Carolina in January.

How does the US solar industry affect project economics?

Notably, despite the US solar industry’s reliance on domestically produced steel, market forces triggered an immediate increase in the domestic steel index. This unexpected rise has increased the production costs of tracker manufacturers, potentially affecting project economics. Additionally, US module manufacturers face increased frame costs.

What percentage of new electricity generating capacity is solar?

Overall, photovoltaic (PV) solar accounted for 69% of all new electricity-generating capacity additions in the first quarter of 2025, remaining the dominant form of new electricity-generating capacity in the US. New US electricity-generating capacity additions, 2010 – Q1 2025 The solar industry faces a perfect storm of Federal policy challenges

How much solar power will come online each year?

However, due to lengthy interconnection studies and grid upgrades, we expect only a fraction of that capacity to come online each year. There is more upside in potential new markets with proposed community solar legislation where pre-development project pipelines exceed 1.5 GWdc.

How will supply chain challenges affect solar development?

Manufacturing growth could be hampered by supply chain gaps and skills shortages and solar developers will continue to face long grid connection queues and permitting challenges, which could soften the demand for U.S. products, Quill Robinson, Senior Program Manager at the Centre for Strategic and International Studies, told Reuters Events.