Hello everyone, it is truly a time of great changes in the solar sector! Today, we are taking a look at some market trends, fresh insights, project updates, and policy news from the solar industry.
To start with a development closer to home for Californians, the California Public Utilities Commission (CPUC) recently announced a considerable reduction in the proposed fixed rate charge on Californians’ electric bills. Initially, this proposed charge was as high as $128, but it has now been lowered to $24.15. This is great news for those using solar panels for their home, because this lowered charge applies regardless of any energy conservation or solar production.
In another policy update, the Internal Revenue Service (IRS) and Treasury Department released new guidance for determining what constitutes a qualified energy community. This update is crucial for solar companies, since projects located in these energy communities can qualify for tax credit bonuses. These bonuses can give a much-needed boost to companies driving the transition away from fossil fuels.
Speaking of state-wise installations, an interesting report from PV Intel identified the five states with the least amount of solar installed. These states were North Dakota, West Virginia, Oklahoma, Alaska, and South Dakota. In these areas, the adoption of solar has unfortunately lagged behind due to a lack of favorable policies, non-competitive electric rates, and the availability of alternative emission-free electricity sources like wind, hydro, and nuclear power.
In a win for the environment, New Hampshire is saying goodbye to its last two coal-fired plants. Thanks to the efforts of the Sierra Club, The Conservation Law Foundation, and the Environmental Protection Agency, Granite Shore Power, the owner of these plants, is now committing to using these sites for solar array for home and battery storage. This shift echoes a larger vanishing trend of coal in favor of renewable energy.
In conclusion, if you’re considering joining the ranks of solar advocates and pondering the idea of installing solar panels for your home, you might be encouraged to know that there is a staggering amount of solar projects awaiting transmission interconnection. By the end of 2023, over a thousand gigawatts of solar projects, along with hundreds of gigawatts of standalone and hybrid storage projects, are expected to be interconnected. This just goes to show you how fast the solar industry is growing, and how crucial it is for solar companies to stay on top of these rapid changes.
The future of solar is bright (no pun intended), and I hope you will join me in favoring this environmentally friendly, sustainable energy source. Whether it be as simple as setting up a solar array for your home or supporting local solar companies, every small step makes a big difference on our journey to a greener planet.
Original Articlehttps://pv-magazine-usa.com/2024/03/29/u-s-solar-industry-week-in-review-3/
