• Loading stock data...
PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Energy » US solar installations are expected to grow 47% in 2020 but coronavirus crisis might have an impact moving forward

US solar installations are expected to grow 47% in 2020 but coronavirus crisis might have an impact moving forward

Enzo Mayor by Enzo Mayor
March 17, 2020
in Energy
2 min read
31
0
The U.S. solar market installed 13.3 gigawatts (GW) of capacity in 2019, new report reveals.

The U.S. solar market installed 13.3 gigawatts (GW) of capacity in 2019, new report reveals. Photo: David Blaikie | Flickr | CC BY 2.0

Almost 40% of the new electricity generating capacity added in the United States comes from solar energy, new figures reveal. However, the growth of the industry is threatened by the COVID-19 crisis, industry leader warns. 

Data from the Solar Energy Industries Association (SEIA) and Wood Mackenzie Power & Renewables revealed that U.S. solar market installed 13.3 gigawatts (GW) of capacity in 2019, a 23% rise compared to the year before. This brings the cumulative operating photovoltaic capacity in the country to stand at more than 76 GW. 

Furthermore, Wood Mackenzie Power & Renewables forecasts annual growth of 47% for 2020, with almost 20 GW of installations. However, the industry is facing an unexpected headwind as the coronavirus pandemic can impact businesses worldwide, including the energy sector. 

The SEIA said it was “closely monitoring changes to the industry as a result of the COVID-19 pandemic. As of the release of this publication, the full impacts of the coronavirus outbreak on the solar industry are still developing.”

However, as of this moment, the organization said that the “dynamic nature of the outbreak” meant it was “too early to incorporate any changes into our outlooks with enough certainty.”

The year 2019 has become one of the most productive years for the solar energy sector. Earlier this year, a report from the Solar Foundation’s “National Solar Jobs Census” revealed that there are 2.3% more people were employed by the solar energy industry in 2019. 

With substantial job losses in 2017 and 2018, the numbers in 2019 are hopeful rays of sunshine for the industry. It also echoed the promising growth of the solar energy circuit that has ballooned more than 167% since the publication of the first census for 2010, the non-profit The Solar Foundation said in an earlier statement. 

“In just ten years, despite facing many challenges, solar has grown from a niche product to a mainstream energy source that provides a quarter of a million high-quality jobs,” Andrea Luecke, The Solar Foundation’s president and executive director, said.

Enzo Mayor

Enzo Mayor

I'm a management degree holder, currently working for a family business. I find myself always indulging on new interests -- from fitness, coffee, writing, travel, and marketing. But by the end of the day, I'm just a guy in a perpetual pursuit to find his balance.

Related Posts

ComEd preps response to restore power outages caused by storm and strong winds
Energy

ComEd preps response to restore power outages caused by storm and strong winds

June 10, 2020
133
President Donald Trump inspired a rise in oil futures after he said a deal between Saudi Arabia and Russia is underway.
Energy

Oil slightly recovers after Trump said a deal between Saudi Arabia and Russia might be reached in a ‘few days’

April 2, 2020
155
Oil refineries and storage facilities are about to reach their maximum capacity as the pandemic continues to shock demand.
Energy

Oil prices are approaching ‘negative territory’ as production increases after OPEC+ cuts expire

April 1, 2020
118
Senator Ted Cruz said that he and other GOP senators ecently ripped into the Saudi ambassador against weaponizing oil prices.
Energy

Ted Cruz: GOP senators warned Saudi Arabia against using oil as ‘economic warfare’ against Americans

March 30, 2020
151
Monday has seen a rise on oil prices, the first after six sessions of losses triggered by the coronavirus outbreak
Energy

Oil recovers after six sessions of losses as OPEC+ mulls to impose further cuts

March 3, 2020
127
US oil prices plummets in its worst week this week since 2008 as coronavirus stokes fear among investors.
Energy

Coronavirus fears push US oil prices down its steepest fall since 2018

February 29, 2020
150
Currently Playing

Subscribe To Our Newsletter

Ad

PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2020 PublicWire.com

Navigate Site

  • About
  • #96576 (no title)
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • #370 (no title)

© Copyright 2020 PublicWire.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Public Wire Logo

Hello please subscribe to our newsletter to get up to date news weekly!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.