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In a detailed report, the SEIA highlighted a path that could see solar installations accounting for 20% of US electricity generation by 2030.
In anticipation of Solar Power International 2019 in Salt Lake City, Utah, the Solar Energy Industry Association (SEIA) has defined a roadmap for achieving several key objectives of the photovoltaic industry over the next ten years.
In a detailed report, the SEIA highlighted a path that could see solar installations accounting for 20% of US electricity generation by 2030.
"Solar + Decade represents an opportunity and a paradigm shift in the transformation of energy consumption in America," said Abigail Ross Hopper, President and CEO of SEIA. "When we reach this goal, by 2030, we will double our workforce and add $ 345 billion in private investment, while offsetting electricity sector emissions by 35%. But we can not do it alone. We will need policies, aggressive collaboration and action from all members of the industry to make these goals a reality. "
The roadmap sets out the benefits of reaching 20% of solar energy by 2030, as well as the collaborations, policy mechanisms and growth management that the sector will need for a radical transformation. of the market.
The roadmap says that penetration of 20% would include the deployment of 500 GW of PV by the end of 2030.
"As the solar energy sector thrives, we need to think about the beneficiaries of solar energy and the enormous economic and climate benefits it will bring," said Hopper. "Together, we can show that the Solar Decade + is an inclusive growth story that will elevate our communities and address our pressing climate challenges."
To achieve this goal, the report notes that the US solar industry will need to take into account:
• Collaborations: A coherent solar industry and external partnerships will be key to the success of this industry. Partnerships with storage, wind and other technologies will be critical to advancing network infrastructure and changing the way we produce, distribute and consume energy.
• Market accelerators: Economic and political forces external to the solar sector, such as energy storage, carbon reduction targets and increased electrification of our economy have their own momentum and that the solar will have to continue to ride this wave of success.
• Market levers and policy drivers: Achieving 20% solar energy by 2030 will depend on a variety of factors, including the ability of the industry to find new opportunities for cost reduction and to evolve stimulate growth. Industry will need to streamline licensing requirements to reduce costs, continue efforts in net metering and other domestic policies in emerging markets, and expand the ITC to continue growing.
ITC extension reader
The SEIA also announced that an extension of the tax credit to investment in the solar sector in the United States could create a $ 87 billion private sector investment market and create 113,000 additional jobs compared to baseline estimates by 2030.
The numbers are corroborated by the 10-year forecast released today by the Wood Mackenzie Power & Renewables market research company.
The forecast comes as SEIA steps up its efforts to get an ITC extension to Congress and that nearly 20,000 solar and storage professionals land in Salt Lake City for Solar Power International.
"These forecasts prove that an extension of the ITC will continue to deliver real results for our economy and for the planet," Ms. Hopper said. "The ITC has allowed us to add billions of dollars to the economy, employ thousands of Americans and be a real solution for cities and businesses that want to do their part to reduce emissions. We ask members of Congress to take this winning climate now. It is not necessary to wait for a complete solution to act on our energy future. "
Directly following an extension of the ITC, SEIA plans to reach 82 GW of photovoltaic facilities over the next 10 years, enough to power more than 15 million US households.
This would also lead to an annual investment of US $ 41 billion in solar energy by 2030, more than 141% higher than the US $ 17 billion invested in 2018.
"The utility segment will derive the greatest benefit from the extension of tax credit, with 63 of the 82 additional GW coming from this segment, as solar energy will gain ground relative to the others. production resources based on price competitiveness, "said Colin Smith, Senior Analyst. with Wood Mackenzie. Austin Perea, senior analyst at Wood Mackenzie, added, "The distributed solar energy sector will also benefit as an extension of tax credit will accelerate the time frame for emerging markets to reach parity." the network compared to our benchmark prospects. "
Since its inception in 2006, the ITC would have helped to create more than 200,000 US jobs, invest 140 billion USD in the private sector and increase by 10,000% the deployment of solar energy.
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