New report reveals unexpected barrier for the future of solar power: ‘We have a long way to go … but I’m encouraged’
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An unexpected barrier has apparently dimmed the shine of solar power for some residents of the Golden State, but the future still appears to be bright for the fast-growing clean energy movement.
As detailed by Canary Media, policy changes in California in May “halved the financial value of residential solar” for customers of three major utility companies.
That resulted in approximately an “80% reduction” in solar panel installations in the biggest market for rooftop projects in the country.
Despite the setback, global research group Wood Mackenzie projected that 2024 will mark a second consecutive record-breaking year for the industry.
The group also estimated an “average annual growth at 14% between 2023 and 2028,” with solar capacity in the United States in 2027 to almost double what it was at the end of last year.
Community solar programs, which allow people to reap the money-saving benefits of solar power without the trouble of installing the panels themselves, were also part of the equation, with Wood Mackenzie writing that newer state markets will “support lasting growth as mature markets become more saturated.”
https://www.msn.com/en-us/lifestyle/lifestyle-buzz/new-report-reveals-unexpected-barrier-for-the-future-of-solar-power-we-have-a-long-way-to-go-but-i-m-encouraged/ar-BB1i6qVM?ocid=msedgdhp&pc=HCTS&cvid=84fdc344d8154eca9622b80b78fd07cd&ei=53
