Solar Energy Surges Despite Trump Push Back
The Trump Administration has cut off much federal government support for alternative energy, which may hinder growth in the future. However, solar energy’s performance has risen quickly recently and is forecast to keep up the growth.
According to The New York Times, “The U.S. power grid added more capacity from solar energy in 2024 than from any other source in a single year in more than two decades, according to a new industry report released on Tuesday.” The report is from Solar Energy Industries Association and Wood Mackenzie. The research was titled “Solar Adds More New Capacity to the Grid in 2024 Than Any Energy Technology in the Past Two Decades.”
Large Part Of Electricity
The data in the report show that 84% of new electricity added to the national grid last year was from solar and solar storage. The research acknowledged that forecasts of future rapid growth could be wrong. “Sudden changes to federal tax credits, supply chain availability, and permitting policy will create uncertainty for investors, increase costs for developers and manufacturers, and cause a slowdown in solar deployment.”
The threats to solar energy growth are similar to those to wind energy expansion, although the prospects for wind energy have already been badly damaged. The president has said he will destroy the offshore wind business. The president said that he would stop offshore wind initiatives on “day one of his presidency.”
Trouble For Wind
If solar energy growth reverses, electricity utilities will only have one place to turn, particularly as demand is driven up by AI server farms: back to fossil fuels.
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