USA Solar & Storage Market

Building Resilience – Project Pipelines & Finance Schemes of the US Solar & Storage Market

The United States of America bears some of the world’s largest potentials for renewable energy generation with large open land areas, water and biomass resources as well as long coastal lines. The continent is also home to a highly skilled workforce, vibrant entrepreneurial spirit and plentiful financing opportunities – the best preconditions for a full transition to 100% renewable energy generation.

Due to the effects of the global pandemic, the country experienced some of its largest fluctuations in history but with rebates, discounts and 25-year terms for loans most installers were able to successfully recover.

Many projects are still on delay while utilities continue to ramp up solar procurement in anticipation of the ITC project completion deadline December 31st, 2023. According to WoodMac, EPCs have reported being more selective with the projects they choose, favoring larger firms [1].

With COVID-19 still pressuring societies and markets, what strategies, technologies and mechanisms can offer some stability to the US solar industry? Are the finance schemes a sustainable approach or compromise diversity and the growth of new business?

[1] WoodMac 2020.

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