Solar Installations to Triple by 2027

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CNBC Headline: Solar installations will triple by 2027 thanks to climate bill, report predicts

PUBLISHED THU, SEP 8 202212:00 AM EDT

Sub-headline points:

:pushpin: A new report from the Solar Energy Industries Association and Wood Mackenzie predicts massive growth thanks to long-term certainty provided by the Inflation Reduction Act.

:pushpin: The industry will grow 40% more than prior forecasts, the report said.

:pushpin: β€œThe Inflation Reduction Act has given the solar industry the most long-term certainty it has ever had,” Michelle Davis, principal analyst at Wood Mackenzie, said in a statement.

https://www.cnbc.com/2022/09/08/solar-installations-will-nea…

β€œThe Inflation Reduction Act has given the solar industry the most long-term certainty it has ever had,” Michelle Davis, principal analyst at Wood Mackenzie, said in a statement.

β€œTen years of investment tax credits stands in stark contrast to the one-, two-, or five-year extensions that the industry has experienced in the last decade. It’s not an overstatement to say that the IRA will lead to a new era for the U.S. solar industry,” she added.

The report pegs total solar installations across market segments growing from 129 gigawatts (GW) today to 336 GW over the next five years.

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