L R AS Published on Saturday 27 August 2022 - n° 413 - Categories:the American PV
Rystad Energy's assessment of the Inflation Reduction Act (IRA)
In the United States, the Inflation Reduction Act (IRA) is expected to allow an additional $110 billion to be invested in large-scale solar power plants by 2030, increasing by more than
70 GW the deployment of photovoltaic technology in the country. This is the estimate of the consultancy firm Rystad Energy. As a result, the forecast for solar installations, which was 200 GW installed by 2030 before the law was passed, has been increased to 270 GW.
See also: Details of the Inflation Reduction Act (IRA)
see also: SEIA assesses the Inflation Reduction Act (IRA)
For this to happen, we need to wait for the end of the anti-dumping and countervailing duty (AD/CVD) investigation, the end of the ban on silicon from Xinjiang and the vast interconnection queues across the US, and the setting up of new production units. The full impact of the new incentives will be felt from 2024.
Solar project developers will be able to choose between the Investment Tax Credit (ITC) and the Photovoltaic Production Credit (worth an estimated $30 billion) to boost domestic clean energy manufacturing.
PV Tech of 23 August 2022
