For the second year in a row the US installed more than 10GWs of solar power, it’s the second highest year on record for the amount of solar installed in the US. In other news New York is committing $1.4 billion to expand renewable energy in the state and New Jersey is poised to pass legislation that would keep solar growth strong in its state.
The US solar industry installed 10.6 gigawatts (GWs) of solar power across all sectors in 2017. That’s according to the latest Solar Market Insight Report from the Solar Energy Industries Association and GTM Research. The report showed that the amount installed was less than the 15.1 GWs of solar power installed in 2016, but also that the drop off in installations was expected since developers and installers rushed to meet the anticipated end of the Investment Tax Credit (ITC).
The report also anticipated that the Trump tariffs will slow growth in the utility-scale solar segment the most and while the market is expected to see continual growth, the speed of that growth is now somewhat reduced.
New York Gov. Andrew Cuomo (D) announced plans to commit $1.4 billion to support renewable energy projects throughout the state. The majority of which, 22 out of 26 projects, are solar. The other projects will include wind and offshore wind development. The state said it is the largest single state commitment to supporting renewable energy projects.
New Jersey is one of the US’s largest states for the solar industry. It looks like the state wants to remain one of the nation’s top solar states as well. Last week solar advocates pushed for the state to pass A3723/S2314, bills that would extend the state’s solar incentives through 2021 and support 7,100 jobs that would otherwise likely be lost.
Energy storage is becoming the next big piece of the puzzle in terms of expanding the growth of renewable energy. Bigger players are entering the business as well. For instance, GE recently introduced its modular Reservoir Energy Storage Platform. The system is 1.2 megawatt battery that provides 4 MW hours of energy storage and is contained in a 20-foot box. GE made the system to be modular and already has orders for it at multiple sites.Tweet