Due to China's goods ban, U.S. solar installations will fall by 23% this year, according to a report.
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New U.S. sun powered establishments are on target to fall by almost a quarter this year, with board imports slowed down by a prohibition on products from China's Xinjiang district over constrained work worries, as indicated by a market report published on Tuesday.
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Solar companies are attempting to take advantage of generous subsidies in the Inflation Reduction Act (IRA), a new law that encourages clean energy technologies to address climate change.
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This coincides with the pessimistic forecast made by industry trade group the Solar Energy Industries Association and research firm Wood Mackenzie.
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According to the quarterly report, the number of utility-scale project installations will decrease by 40% this year, from 2021 to 10.3 gigawatts.
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The majority of the solar market in the United States consists of large projects for utilities and other large customers. Despite a 37% increase in the residential market, commercial and community installations are expected to also decline.
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Installations in the United States are expected to decrease by 23% to 18.6 GW overall.