Utility solar up, residential solar down

THE ESSENTIALS

Residential solar installations hit two-year low

• Residential solar installations dropped to 1.28 gigawatts in Q1, down 25% from 1.7 gigawatts a year ago.

• High interest rates and reduced incentives in California, the largest market, are driving the decline.

• Utility-scale solar installations performed well, hitting a record 9.8 gigawatts in Q1 and pushing total US solar installations to 11.8 gigawatts, the second-best quarter on record.

• US panel production capacity increased by 71% in Q1 of 2024 from the previous year, reaching 26.6 gigawatts, largely due to the Inflation Reduction Act.

Why this matters: While utility-scale projects are thriving, the challenges faced by rooftop installers are slowing overall adoption of residential solar. The increased domestic manufacturing capacity may mitigate some issues in the long-term, but it’ll take time for that supply chain to mature.

Prices start to rise for solar modules

• Median solar module prices rose by 2% in May after bottoming out in April at $0.24/w, according to data collected by Anza Renewables.

• Anza attributes the price increase to the end of the tariff exemption for imports of bifacial panels from Southeast Asia and uncertainty around future AD/CVD measures.

• Suppliers are concerned that even if duties aren’t adopted until later in the year, they could be applied retroactively.

Why this matters: It’s the end of a long, steady decline in solar module prices. With more changes to trade policy likely coming this year, we are still in the early stages of seeing their impact on prices.

Startup says it will build US plant for perovskite cells

• California startup Swift Solar says it will build a US factory to manufacture perovskite solar panels, Bloomberg reported.

• Swift focuses on making tandem cells that combine perovskite with traditional silicon materials to increase efficiency by up to 30%.

• Despite the efficiency advantages, perovskite cells face challenges in durability and stability, but Swift reports significant improvements in cell stability and is actively testing prototypes.

• Swift has secured $44 million in financing, including a $7 million award from the US Energy Department and $27 million from venture capital.

Why this matters: Swift’s announcement is a hopeful sign for those (including The White House) who want to see a domestic solar supply chain flourish. The combination of incentives for US companies and rising tariffs on imports does seem to be making the manufacturing of panels in the US more viable — domestic production increased by more than 71% to start the year.

A MESSAGE FROM SOLAR DISPATCH

Reach thousands of solar professionals with your message

Partnering with Solar Dispatch gets your message in front of thousands of solar industry pros — and in a format they’ll actually read.

• Along with native newsletter placements, we’re now offering lead-gen ads — only pay for the leads you get.

Just reply to this email to learn more about how Solar Dispatch can give you a powerful new marketing channel at a reasonable price.

WHAT ELSE IS HAPPENING

➡️ Entergy strikes deal for solar build-out in Deep South. New Orleans-based energy company Entergy and NextEra Energy Resources signed a joint agreement to develop up to 4.5GW of solar and energy storage over the next five years in the Southern US. Projects will be located within Entergy's service areas in Arkansas, Louisiana, Mississippi, and Texas. (More)

➡️ Study shows solar panels cut energy costs by $1,987. In a study of over 400,000 homes, Lawrence Berkeley National Laboratory found that installing rooftop solar panels can reduce the energy burden for US homes by an average of two percentage points. Low-income homes saw the greatest reduction, while homes in the south experienced an increase due to lower electricity costs. (More)

➡️ Canadian Solar inaugurates first US production facility. The plant in Mesquite, Texas can produce 5GW of TOPCon modules and employs 1,500 people. The company is also building a 5GW plant in Jeffersonville, Indiana. (More)

➡️ Origis Energy 200MW solar project comes online in New Mexico. The project, which was built on the site of a former coal plant, will provide power to 63,000 homes. Construction was handled by Gridworks, and the project uses Boviet solar panels and Array Technologies' tracking systems. (More)

AROUND THE WORLD

Indonesia will add 5.75GW of rooftop solar. The new quotes for the state electricity company will require it to complete the build-out by 2028 as part of the country’s plan to make renewables 23% of its energy mix by next year. (More)

VW plans large-scale BESS system in Germany. The energy arm of Volkswagen says it will build and operate the first large-scale battery energy storage systems in Germany. Last year, enough renewable energy was curtailed in the country because of insufficient storage to power 3.2 million EVs for the year. (More)

Solar installs slow in South Africa. After 77 days of uninterrupted power in South Africa, the pace of solar installations has begun to slow. During blackouts last year, many South Africans installed solar panels to keep the lights on, importing $180 million worth of panels from China in May alone. (More)

A MESSAGE FROM SOLAR DISPATCH

Reach thousands of solar professionals with your message

Partnering with Solar Dispatch gets your message in front of thousands of solar industry pros — and in a format they’ll actually read.

• Along with native newsletter placements, we’re now offering lead-gen ads — only pay for the leads you get.

Just reply to this email to learn more about how Solar Dispatch can give you a powerful new marketing channel at a reasonable price.

HELP US IMPROVE