Tag Archive for: homesolar

California regulators on Thursday proposed changes to the state's residential solar market designed to encourage more at-home battery systems

California regulators on Thursday proposed changes to the state’s residential solar market designed to encourage more at-home battery systems that can help the electrical grid rely less on fossil fuels in the evenings, especially during heat waves.

It’s the California Public Utilities Commission’s second attempt at updating the state’s incentive program for home solar systems. Last December, the commission proposed new charges for solar customers and lessened the subsidies for installing rooftop panels, which utilities wanted but solar companies warned would cripple the booming industry and hinder the state’s move to clean energy.

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Source: Fox News

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Residential solar power installations rose by 34% from 2.9 gigawatts in 2020 to 3.9 gigawatts in 2021, according to data from the US EIA.

President Joe Biden recently signed into law new legislation that includes larger investments in renewable energy and measures to address climate change. Among its provisions is a 30% solar tax credit that could spur more Americans to “go solar” over the next decade.

While residential solar power currently generates just a fraction of the country’s overall electricity, it has continued to grow rapidly in recent years, despite COVID-19-related supply chain issues, import restrictions and other obstacles.

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Source: Pew Research Center

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The Inflation Reduction Act of 2022 extended that tax credit for the decade to come, and we can expect solid continued growth again.

The U.S. solar energy industry has grown tremendously in the past decade. That growth has actually been one of the most phenomenal economic growth stories across the whole U.S. economy. However, the “Covid Era” hit solar hard, and it has struggled to get back on the trajectory it was on.

The latest industry-wide data we have from the U.S. Solar Energy Industries Association and Wood Mackenzie show a near leveling off of growth. (Note that all of the following data and analysis from these parties comes from before the passing or even introduction of the Inflation Reduction Act of 2022.)

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Source: Clean Technica

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