• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 4 days How cheap Chinese tires might explain Russia's 'stalled' 40-mile-long military convoy in Ukraine
  • 5 hours Failure To Implement Russian Oil Ban Could Send Oil Crashing To $65
  • 8 days Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 8 days "The Calm Before The Storm In Oil Markets" by Tom Kool of OILPRICE and seen at YahooFinance
  • 2 days Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 8 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
Soaring Solar Costs Could Slow The Renewable Boom

Soaring Solar Costs Could Slow The Renewable Boom

Year-to-date, solar module prices have…

India Pivots To Solar As Coal Shortages Grip The Country

India Pivots To Solar As Coal Shortages Grip The Country

As India grapples with widespread…

Solar Power Has Had A Blowout Year Despite Pandemic Woes

Solar Power Has Had A Blowout Year Despite Pandemic Woes

Despite supply chain problems and…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

U.S. Solar Boom Stumbles

  • U.S. solar industry is dealing with significant cost increases and supply constraints
  • Some forecasters are beginning to doubt that the U.S. government’s ambitious plans for adding 21.5 GW of utility-scale solar this year could be unrealistic

Higher costs and supply constraints are causing problems for what many see as a solar industry boom in the United States under the strongly pro-renewables Biden administration.

According to a Financial Times report, despite strong demand for solar power, some forecasters are beginning to doubt that the U.S. government’s ambitious plans for adding 21.5 GW of utility-scale solar this year may not pan out.

The FT cited Wood Mackenzie as one of these forecasters, noting the consultancy had revised substantially down its projections for utility-scale solar additions for this year.

“There are two realities for the solar industry right now,” Xiaojing Sun, head of solar at Wood Mackenzie, said as quoted by the Financial Times. “The demand for a clean energy product like solar is extremely strong . . . but the other reality is the situation on the ground, given Covid, the complex supply chain situation as well as some of the geopolitical factors.”

The industry does not seem to share the concern, based on recent comments made by a senior executive from Hanwha Q Cells, the largest solar panel manufacturer in the Western Hemisphere.

“We’re at an inflection point for the industry,” Scott Moskowitz, director of strategy and public affairs at Hanwha Q Cells, said this week, as quoted by E&E News. Solar power, he added, is “the cheapest form of energy that has ever existed — now that the industry has scaled, how are we going to make sure we install as much as possible?”

The answer to this question may not be as simple and straightforward as the industry would hope. In addition to rising production costs amid a major commodity rally, there is also the question of Chinese dominance in all things solar.

Last year, the Biden administration suspended imports of Chinese polysilicon on allegations of forced labor being used to make the material and made non-Chinese suppliers prove their polysilicon does not come from China’s Xinjiang province.

There is also the question of Chinese solar import tariffs, introduced by the Trump administration and kept by Biden. Those have both supporters and opponents in the U.S. solar lobby, and it is yet to be seen which side will prevail.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • John St Antoine on January 26 2022 said:
    The YOU is Biden Xi and Putin among others, terrible leaders, Putin is better than Xi, Biden is Senile and Iran is a terrorist state and your all doing business with them, and people alike, this will stop right now, and right here today

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News