New Solar Installations in The US

According to CCTV News, the US Energy Information Administration (EIA) recently released a report that in the first half of this year, less than half of the planned photovoltaic power capacity was added to the solar power projects of public utilities in the US.

According to the report, U.S. power plant developers planned to install 17.8GW of solar capacity in 2022, yet only added 4.2 GW of capacity in the first six months of 2022.

From January to June, an average of 4.4 gigawatts of solar installations were delayed each month, compared with an average of 2.6 gigawatts a month in the same period last year.

The EIA cited supply-chain constraints, labor shortages and component prices as factors that could cause delays.

Notably, the United States has passed a climate-change investment bill, including a photovoltaic push, to cut inflation. According to market speculation, this act will accelerate the continued growth of the U.S. photovoltaic market. On August 7, the U.S. Senate passed the Inflation Reduction Act and sent the bill to the House of Representatives. The bill's $740 billion package aims to reduce the government deficit and address the economic problems people face, such as inflation, through a range of measures, including reducing prescription drug costs, tax reform and combating climate change. Of that, the bill plans to spend $369 billion on energy and climate to cut inflation, including tax credits (ITC) for the clean power and energy storage industries and $40 billion in subsidy and loan programs for states and utilities to wean themselves off fossil fuels. The bill is one of the largest climate-change investment bills ever enacted by the U.S. government.