{"id":1370199,"date":"2022-03-11T07:07:26","date_gmt":"2022-03-11T12:07:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1370199"},"modified":"2022-03-11T07:11:42","modified_gmt":"2022-03-11T12:11:42","slug":"new-u-s-solar-panel-installations-set-to-crater-thanks-to-inflation-supply-chain-issues","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-u-s-solar-panel-installations-set-to-crater-thanks-to-inflation-supply-chain-issues\/","title":{"rendered":"New U.S. Solar Panel Installations Set to Crater Thanks to Inflation, Supply Chain Issues"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-u-s-solar-panel-installations-set-to-crater-thanks-to-inflation-supply-chain-issues%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1370199&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Solar panel installations are set to decrease in 2022 off of major supply chain issues and rising prices caused by inflation, according to an industry report.<\/p>\n<p>New utility or large-scale industrial solar installations are expected to experience a decline of 14% year-over-year in 2022, the report <a href=\"https:\/\/www.seia.org\/research-resources\/solar-market-insight-report-2021-year-review\">published<\/a> Thursday by the Solar Energy Industries Association (SEIA) and Wood Mackenzie showed. Utility-scale solar projects saw an average price increase of 18% over the last year.<\/p>\n<p>While industrial solar production increased in 2021 \u2014 companies installed 17 gigawatts of capacity \u2014 the industry still installed 3 gigawatts fewer than expected, according to the report. The projection miss was thanks to supply chain issues and price fluctuations which led to project delays and cancellations that are expected to continue into 2022.<\/p>\n<p>\u201cThe supply chain constraints of the last year will hit 2022 installations the hardest, reducing capacity by 7% compared to 2021,\u201d Michelle Davis, principal analyst at Wood Mackenzie and lead author of the report, <a href=\"https:\/\/www.seia.org\/news\/solar-growth-trajectory-remains-uncertain-federal-legislation-stalls\">said<\/a> in a statement.<\/p>\n<p>Wood Mackenzie lowered its near-term solar forecast by 11 gigawatts, a 19%. <strong><a href=\"https:\/\/dailycaller.com\/2022\/02\/23\/lg-electronics-solar-panel-business-supply-chain\/\">(RELATED: LG Abandons Solar Panel Business Amid Supply Chain Issues, High Costs)<\/a><\/strong><\/p>\n<p>But Davis added that the report forecasted long-term growth for the solar industry \u2014 up to 500% by 2032\u2014 if Congress approved an extension to the Investment Tax Credit (ITC) for solar. SEIA CEO and President Abigail Ross Hopper echoed the need for government support to the solar industry in future legislation.<\/p>\n<div id=\"attachment_7389146\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-7389146\" class=\"wp-caption-text\">President Joe Biden speaks at the National Renewable Energy Laboratory in Arvada, Colorado on Sept. 14, 2021. (Brendan Smialowski\/AFP via Getty Images)<\/p>\n<\/div>\n<p>\u201cIn the face of global supply uncertainty, we must ramp up clean energy production and eliminate our reliance on hostile nations for our energy needs,\u201d Hopper said.<\/p>\n<p>\u201cPolicymakers have the answers right in front of them: if we pass a long-term extension of the solar Investment Tax Credit and invest in U.S. manufacturing, solar installations will increase by 66% over the next decade, and our nation will be safer because of it,\u201d she continued. \u201cAmerica\u2019s energy independence relies on our ability to deploy solar, and the opportunity before us has never been more obvious or urgent.\u201d<\/p>\n<p>Over the next decade the residential, non-residential and utility-scale solar sectors would increase by 20%, 15% and 86% respectively if a long-term solar ITC extension was passed, the report concluded.<\/p>\n<p>Without an extension, though, U.S. solar capacity wouldn\u2019t even reach 40% of President Joe Biden\u2019s 2035 target, according to Wood Mackenzie\u2019s estimates. In April 2021, Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/04\/22\/fact-sheet-president-biden-sets-2030-greenhouse-gas-pollution-reduction-target-aimed-at-creating-good-paying-union-jobs-and-securing-u-s-leadership-on-clean-energy-technologies\/\">announced<\/a> the goal of achieving full decarbonization of the U.S. power grid by 2035.<\/p>\n<p>The White House has worked to push greater solar installations over the last 14 months, <a href=\"https:\/\/dailycaller.com\/2021\/12\/22\/joe-biden-administration-interior-department-solar-panels-renewable-energy\/\">approving<\/a> several projects that could power more than 274,000 homes. Biden also <a href=\"https:\/\/dailycaller.com\/2022\/02\/04\/joe-biden-solar-panels-tariffs-unions-trump-administration\/\">scrapped<\/a> restrictive levies on foreign solar imports placed by the Trump administration, opening the door for more reliance on cheaper Chinese panels.<\/p>\n<p>\u201cToday\u2019s decision recognizes the importance of this innovative technology in helping to improve power output and lower costs in the utility-scale segment,\u201d Hopper said at the time.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solar panel installations are set to decrease in 2022 off of major supply chain issues and rising prices caused by inflation, according to an industry report.New utility or large-scale industrial<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1370199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1370199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1370199"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1370199\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1370199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1370199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1370199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}