U.S. Utility Solar Contracts ‘Exploded’ In 2018 Despite Tariffs: Report

(Reuters) – Procurement of solar energy by U.S. utilities “exploded” in the first half of 2018, prompting a prominent research group to boost its five-year installation forecast on Thursday despite the Trump administration’s steep tariffs on imported panels. A record 8.5 gigawatts (GW) of utility solar projects were procured in the first six months of this year after President Donald Trump in January announced a 30 percent tariff on panels produced overseas, according to the report by Wood Mackenzie Power & Renewables and industry trade group the Solar Energy Industries Association. As a result, the research firm raised its utility-scale solar forecast for 2018 through 2023 by 1.9 GW. The forecast is still 8 percent lower than before the tariffs were announced. A gigawatt of solar energy can power about 164,000 homes.
Share This