Research: U.S. Community Solar Market Can Grow 70 Times by 2030

Posted by: YijunW

A new research estimates that the U.S. community solar market, which currently accounts for 1 gigawatt of installed operating capacity, can consistently scale to 50-70 times that size by 2030. This is equivalent to 8 million new solar customers, 72 TWh to 107 TWh electricity, and $81 to $121 billion in capital investment. The study “The Vision for U.S. Community Solar: A Roadmap to 2030” was published on July 2018 by Wood Mackenzie, which is a market analysis and advisory company on the global electricity industry. It stated the number of solar energy systems purchased by U.S. homeowners and businesses has grown tenfold since 2010. By the end of 2018, nearly 2 million homeowners and businesses will produce their own solar energy. According to Wood Mackenzie, solar is getting more affordable. The cost of rooftop solar has curbed by 40 percent in the past five years and the cost is lower than the average retail price of electricity in 27 states and Washington, D.C. One of the reasons for switching from fossil fuel is that they have disproportionately impacted the health of low-income communities, especially communities of color and indigenous communities. Emissions from power plants sited in these communities contribute to high rates of asthma and cancer, and the presence of heavy industry contributes to a cycle of poverty and public disinvestment in neighborhoods that can least afford it (Wood Mackenzie). Roughly 68 percent of African Americans live within 30 miles of a coal-fired power plant and almost 40 percent of communities of color in the United States breathe polluted air (Wood Mackenzie). What do we say? Go solar! To see more, please visit: https://votesolar.org/policy/policy-guides/shared-renewables-policy/csvisionstudy/#reportdownload https://green-technology.org/newswireup/new-report-finds-community-solar-could-grow-80-times-by-2030/