Solar capacity projections look promising in the US | Amid continued spread of COVID-19

Updated: Feb 28, 2021

MANOLO BARDEGUEZ - Welcome to my Blog. I hope the articles on this site inspire you and I encourage you to discover the benefits of going solar for yourself by clicking Go Solar. By clicking Join you can also learn how you can join our movement to connect the world to sustainable technologies and get paid handsomely by the fastest growing solar company in America. If you have any questions, contact me directly at ManoloBard@SunbrightNet.com or call me by clicking the phone icon above.Solar power has experienced steady growth for decades before international markets were disrupted by a shocking global event—the coronavirus outbreak.


A 20 year exponential growth in new solar capacity is expected to slow down for the first time since the 1980s.  The novel coronavirus COVID-19 is slowing down solar energy projects in the United States due to a ripple effect of delays through the supply chain. As recently as today, March 16, 2020, news broke across the solar industry that stock prices of two major solar manufacturers, Canadian Solar Inc. (NASDAQ: CSIQ) and JinkoSolar Holding Co. (NYSE: JKS) experienced a double digit drop due to decreasing acceleration in new solar capacity—as reported by Bloomberg New Energy Finance.


Turning back the clock even a few short months, we've seen that developing technologies like 5G, Ai, Blockchain, Autonomous Vehicle Technology and Robotics have expanded demand for purchased electricity.  Even a recent EIA report suggested a 50% increase in world energy usage was expected by year 2050—mainly driven by growth in Asia.  In the US, the primary drivers for new electric capacity are retirement of older, less-efficient fossil fuel power plants; the near ending access to renewable energy tax credits (ITC); and the continued decline in the

capital cost of renewable energy—especially photovoltaic solar technology.


In addition, continuous natural gas price reductions added to more favorable costs for renewable energy have made these fuels increasingly competitive over time, thereby resulting in an upward shift towards solar power and renewable energy in the general electricity output capacity projected through 2050. Furthermore, the Energy Information Administration (EIA) recently estimated that new electric generating capacity for 2020 would come primarily from renewable energy, namely wind and solar. Based on this picture, long term forecast for solar photovoltaic capacity still appears to be a solid investment.


However in the short term, the US utility-scale solar market is dealing with uncertainty in their supply chains, amid the coronavirus pandemic control measures. Suppliers in Asia cannot fulfill delivery obligations in time, while domestic suppliers are also slowing down production lines. Demand has shifted from primarily commercial to residential during this pandemic event and the solar industry must adapt to the changes.  Material costs may or may not increase—that all depends on the length and measures adopted by authorities to contain the spread of the virus.


In the meantime, solar retailers must look for new venues to reach homeowners through this global emergency resting upon increasing demand for residential energy, as homeowners seek shelter and protection in their dwellings.  Sharing the solar message through unconventional ways is paramount to keep the growth in an upward trend. 


Remote virtual presentations are a great tool to secure a successful sales presentation while safeguarding the health of all participants. Virtual meeting services like Zoom and Google HangOuts are excellent ways through which businesses can share their message more broadly and efficiently. More to come in this developing story.



MANOLO BARDEGUEZ - Welcome to my Blog. I hope the articles on this site inspire you and I encourage you to discover the benefits of going solar for yourself by clicking Go Solar. By clicking Join you can also learn how you can join our movement to connect the world to sustainable technologies and get paid handsomely by the fastest growing solar company in America. If you have any questions, contact me directly at ManoloBard@SunbrightNet.com or call me by clicking the phone icon above.

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