It is a sector that is experiencing unprecedented growth. Over the past two years, American solar panel manufacturers have nearly quadrupled their production capacity. According to the latest report published by the industry federation, the Solar Energy Industries Association (SEIA), in partnership with Wood Mackenzie, solar module manufacturing capacity jumped from 8.3 gigawatts (GW) in 2021 to more than 31 GW this year.
At the origin of this dynamic are the generous incentive measures provided for by the Inflation Reduction Act. This subsidy plan, implemented by Joe Biden from 2022, has attracted manufacturers and is growing factories across the country. In total, more than 30 groups have announced plans to open sites or expand their capacity.
The United States will soon be an exporter
As a result, production is expected to soon outstrip demand. The US installed 32.4 GW of solar power last year. And needs are expected to continue to rise. But according to the report, module production capacity will increase even more rapidly. It could reach 53.9 GW by the end of next year and even nearly 140 GW in 2027 – far more than the country will ever need.
In the coming years, the United States could become a net exporter of photovoltaic panels for the first time in several decades. However, the Americans are still a long way from being able to tickle China, which remains largely the leader in this field.
China’s solar module production capacity exceeded 1 terawatt last year, 25 times that of the United States.
Source: BFM TV
