The US solar energy industry achieved record growth last year, and the total installed capacity will quadruple in 2030.

The negative impact of the novel coronavirus pandemic was offset by a relatively favorable economic situation, supportive policies and strong demand in the second half of last year, with the installed capacity of solar energy in the United States reaching an all-time high in 2020. The industry association predicts that the industry will continue to grow at a high speed in the next decade.

According to a report released Tuesday by (Solar Energy Industries Association), the American solar industry association, and (Wood mackenzie) of Wood Mackenzie, the installed capacity of solar energy in the United States increased by 43% in 2020 compared with the same period last year, with new installed capacity reaching a record 19.2 gigawatts. Among them, the newly installed capacity in the fourth quarter of 2020 reached 8 gigawatts, a quarterly high.

For the second year in a row, California, Texas and Florida ranked among the top three for new solar installations, followed by Virginia and North Carolina.

Despite the negative impact of the suspension of some businesses affected by the epidemic, sales in the solar industry slowed at one point in the second quarter of last year. But in the second half of the year, customer interest in residential renovations rose, and sales of residential solar energy hit a record high.

"the recent extension of the two-year investment tax credit (ITC), is expected to boost the popularity of more solar facilities in 2025," said Michelle Davis (Michelle Davis), a senior analyst at Woodman Kentz.

She was referring to a tax credit extended by Congress in December to help reduce the cost of solar facilities as part of novel coronavirus's epidemic rescue and government spending package.

In the United States, solar power accounted for 43% of the new generation capacity in 2020, the largest share of solar power in history. In many places, solar energy has become the cheapest new energy.

"Residential solar sales continued to exceed expectations as loan providers launched attractive products and increased interest in home decoration, while customers suffering from power outages from extreme weather events sought energy alternatives," the report said. "

Total installed capacity may quadruple by 2030

It is worth mentioning that the report by the American Solar Industry Association and Woodman Kenzi also forecasts growth in 2030 for the first time. The report shows that the size of the US solar market in 2030 may be four times its current level.

The report predicts that the annual installed capacity may exceed 50 gigawatts in 2030. In the next decade, the United States will add 324 gigawatts of solar installed capacity, which means that the total installed solar capacity of the United States will reach about 420 gigawatts by 2030, more than four times the current total installed capacity of 97.2 gigawatts.

The solar power capacity of 324 gigawatts will be enough to meet the electricity needs of 60 million households, equivalent to 40 per cent of current household electricity in the United States. At present, only 3% of the electricity in the United States comes from solar energy, but the American Solar Association hopes that proportion will rise to 20% by 2030.

Us President Joe Biden (Joe Biden) unveiled a $2 trillion infrastructure and climate change package last July, calling for zero carbon emissions in the power industry by 2035.

The Solar Industry Association says further tax breaks, elimination of tariffs on overseas panels and labour training will be necessary if the United States is to reduce greenhouse gas emissions enough to prevent the worst effects of climate change.

"We need to make policies in all these areas so that we can not only grow on the current path, but also accelerate growth," Abigail Ross Hopper, president of the association, said in an interview.