The Wood Mackenzie report predicts that the UFLPA could limit solar deployment through 2023 due to module availability constraints, affecting the IRA to 2024 and beyond. Solar installation forecasts for 2022 have dropped to 15.7 GW, the market’s lowest total since 2019, due primarily to a Commerce Department tariff investigation and supply chain issues persist from the Uyghur Forced Labor Prevention Act, which went into effect on June 21, among other trade constraints. “With this incredible opportunity comes a responsibility to clearly address concerns over forced labor and ensure that we have ethical supply chains throughout the world.”

“This report provides an early look at how the Inflation Reduction Act is going to transform America’s energy economy, and the forecasts show a wave of clean energy and manufacturing investments that will uplift communities nationwide,” said Abigail Ross Hopper, president and CEO of SEIA. Cumulative solar installations across all market segments will nearly triple in size, growing from 129 GW today to 336 GW by 2027.

Credit: Coalition for Community Solar AccessĪccording to Wood Mackenzie, the utility-scale sector will lead the solar industry’s growth over the next five years with 162 GW of new capacity.

Instal the new for windows IRA