US Solar Industry In Big Trouble
The new administration’s policies have severely undercut America’s commercial wind energy business. Now, the residential solar sector could also be in deep trouble.
Inflation Reduction
According to Axios, “Repealing or paring back IRA renewable power subsidies would slash projected rooftop solar growth, Morgan Stanley analysts find.” (Inflation Reduction Act)
Solar is supposed to be one of the legs of alternative energy, along with wind, nuclear, and hydro. Huge AI installations could soon compete with residential clients for electricity, which could happen soon. Tens of millions of homes are on the already weak national grid.
Nuclear Reactors
New module nuclear reactors will not be online for several years. We can restart some of the larger installations built decades ago. Drought threatens hydro in some parts of the country. A new lack of government support for wind farm installations has hurt wind power.
Residential solar is also important because large corporations do not finance it. The government credit does not mean the homeowner pays nothing. Residential purchases make the solar industry viable.
Sponsor
Find a Vetted Financial Advisor
- Finding a fiduciary financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 financial advisors that serve your area in 5 minutes.
- Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals!
More from ClimateCrisis 247
- Putin Could Hurt Major US Oil Companies
- Fossil Fuels Winning Over Green Energy
- Drone Could Cause Jump In Oil Price
- Air Conditioning Causes Global Surge In Electricity Needs
