A new report from Wood Mackenzie and the Solar Energy Industries Association (“SEIA”) shows that the pipeline of US solar projects has reached an all-time high of 37.9 GW. The report also found that 15 GW of solar capacity was added in the US in 2018, which is a record. The SEIA anticipates that the US will finish the year 2019 with 12.6 GW of new solar additions, despite a first quarter dip. Solar capacity additions to date in 2019 account for 36% of all new US capacity.
The report cites local and federal tax credits, lower construction costs, and an increasing corporate interest in renewable energy as reasons for the new record. Despite the new highs, the SEIA says that the solar investment tax credits must be extended by congress in order to further solar investment.