November 16, 2021 Read More →

U.S. solar installations projected to double record capacity next year

Utility Dive:

One way or another, 2022 is set to be a monumental year for the renewable energy industry.

U.S. developers have plans to install 71 GW of wind and solar next year, plus an additional 8 GW of battery storage — potentially exceeding records on all fronts. About 40 GW of the wind and solar capacity expected to be installed in 2022 is contracted to non-utility offtakers, according to the S&P report.

But the rapidly changing political and economic landscape could prompt developers to reconsider their plans, according to Wilson, a renewables energy analyst for S&P Global Market Intelligence.

The estimates contained within the 2022 S&P outlook were calculated before two key developments: the passage of a bipartisan infrastructure bill extending wind and solar tax credits, and rapid increases in key raw material and shipping costs, Wilson said.

[Emma Penrod]

More: S&P projects record installation of 71 GW of US wind and solar in 2022 amid rising headwinds

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