Utility scale deployment rallied in the fourth quarter, achieving 4.3 GW and 11.8 GW for the year – a decline on 2021 but not as catastrophic as some had feared.
There are, however, glimmers of hope for solar in the US.
China’s National Energy Administration also reported exceptional growth in 2022, with 87.4 GW of solar completed, for year-on-year expansion of 60.3%. Some 20.2 GW of solar was installed in a market that should be undergoing supercharged expansion on the back of generous Inflation Reduction Act subsidies.īy contrast, the European solar marketplace expanded 47% to 41.4 GW last year, according to SolarPower Europe. According to energy analyst Wood Mackenzie, the US solar market declined 16%, year on year, in 2022. The numbers don’t make for great reading.
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