Wood Mackenzie’s report, “Four Predictions for US Distributed Solar in 2024,” forecasts the US distributed solar industry to install over 9.5 GW in 2023, a fivefold increase from a decade ago. Despite challenges such as high interest rates and interconnection congestion, relief in the module supply chain and rising retail rates are mitigating these issues in certain states. While the residential market faces contraction due to factors like high interest rates and the new California net billing tariff, the commercial and community solar segments are expected to grow. Key trends in 2024 include the impact of the residential solar slowdown on customer acquisition costs, emerging markets in commercial and community solar, and the adaptation to net metering successor tariffs.
Wood Mackenzie analyses US Distributed Solar growth trends & challenges in 2024
Residential solar customer acquisition costs peaked in 2023 and are expected to reach a record high in 2024. (Image Credit: WoodMackenzie).
Seven manufacturers to exceed 100 GW production capacity by 2027, reports Wood Mackenzie. (Image Credit: Wood Mackenzie)
South Carolina currently has 108 solar farms with a combined capacity of 1,503 MW, generating 159,167 MWh annually. (Image Credit: SOLARbytes)
JinkoSolar’s N-type TOPCon solar module has attained 25.42% conversion efficiency. (Image Credit: JinkoSolar)
ISO 37301 certification reflects Trina Solar’s commitment to ethical business practices and regulatory compliance. (Image Credit: Trina Solar)