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Report: U.S. solar industry will grow 25% less than expected during 2022
"The U.S. solar industry will grow 25% less than previously forecast during 2022 thanks to supply chain constraints and rising raw material costs, according to a report released Tuesday by the Solar Energy Industries Association and Wood Mackenzie.
The quarterly update showed that prices continue to rise as the industry grapples with the same cost pressures impacting every corner of the economy. Additionally, trade uncertainty has also weighed on the solar industry.
During the third quarter costs rose across the utility, commercial and residential solar segments for a second-straight quarter. In the utility and commercial segments, the year-over-year price increases were the highest since Wood Mackenzie began tracking the data in 2014."
Report: U.S. solar industry will grow 25% less than expected during 2022
Supply chain issues, political tensions, and an expiring tax credit are weighing on the industry.
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