US Solar Market Insight: 2022 Year in Review
The US solar industry shrank by 16% in 2022. It was a volatile year characterized by the anticircumvention investigation, widespread equipment detentions at ports and the historic victory of the Inflation Reduction Act (IRA). On balance, all the uncertainty surrounding various trade issues as well as supply chain constraints took their toll on industry growth.
As the industry looks ahead to 2023, there is cause for optimism. Most expect supply chain relief in the second half of this year as importers satisfy Customs and Border Protection (CBP) requirements and shipments make their way to project sites. But major uncertainties remain regarding new anticircumvention tariffs, domestic solar module supply and US Treasury guidance on various aspects of the IRA.
To help the industry benchmark these uncertainties, we’ve created a set of alternative scenarios. In our US solar market insight 2022 year in review report, created in collaboration with the Solar Energy Industries Association (SEIA), we highlight these forecast scenarios in addition to our annual 10-year outlook.
US Solar Market Insight® is a quarterly publication of Wood Mackenzie and the SEIA®. Each quarter, we collect granular data on the US solar market from nearly 200 utilities, state agencies, installers, and manufacturers. This data provides the backbone of this US Solar Market Insight® report, in which we identify and analyze trends in US solar demand, manufacturing and pricing by state and market segment over the next five to ten years.
Download the executive summary today.