With a 43% jump in solar industry growth from 2019-2020, the US is poised to achieve nearly half of it’s electricity supply from the sun by 2050. “The US Department of Energy released a study that suggests solar power could provide 35% of the nation’s electricity supply by 2035 and 45% by 2050. The scenario assumes continued technological innovation to reduce costs, substantial government investment, and “large-scale electrification” of power plant, building, and transportation infrastructure.
To achieve these numbers the DOE stated:
“Solar deployment will need to grow by an average of 30 gigawatts alternating each year between now and 2025 and ramp-up to 60 GW per year between 2025 and 2030.”
This means that as solar developers, we need to be signing PPAs with the most energy-intensive infrastructure project heads across the country. Here in Vermont, with Tier 1-Tier 3 Programming in place, which requires that Green Mountain Power meet its renewable energy goals ahead of the national date at 2030, project developers should be reverse engineering finance models with investors using this state’s incentive program, which ultimately benefits the utility. Check this out – Read More