L R AS Published on Monday 29 August 2022 - n° 413 - Categories:US policy, the American PV
Opinions in favour of the IRA are widespread
According to Princeton University, the IRA will allow the installation of an additional 49 GW of solar power per year between now and 2025. This is five times more than the capacity added in 2020.
Research firm Wood Mackenzie estimates
that adoption of the IRA will increase industrial-scale capacity development by 86% over the next ten years. The US solar industry has never experienced such a long period of policy certainty, spanning ten years. "Having certainty over a period of more than ten years radically changes the outlook for the sector. "Tax credits make solar competitive with wholesale electricity market prices and allow utilities to add renewable resources without increasing customer rates.
Read also: Details of the Inflation Reduction Act (IRA)
The extension of the ITC and PTC for a decade "is the fundamental part" of this legislation, according to EPC contractor SOLV Energy. The certainty of having time to develop a US supply chain is almost as important as the PTC and ITC extensions.
PV Tech of 18 August 2022