2024 Q2: US solar industry added 9.4 GW of capacity, boosted by IRA; 75 GW total growth since enactment.

In Q2 2024, the U.S. solar industry added 9.4 GW of capacity, largely due to the Inflation Reduction Act (IRA), which has boosted total capacity by 75 GW since its enactment. Despite a contraction in the residential market, growth is expected in 2025. Meanwhile, a report from Horizon Advisory warns that Chinese investments in U.S. solar manufacturing could reinforce China's dominance, potentially counteracting U.S. efforts to reduce dependence on foreign suppliers.

September 15, 2024
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