REM: US installs 6.6 GW of clean power in Q1
The United States installed 6.6 GW of new clean power with 90 projects coming online in the first quarter of 2022, says a new market report from the American Clean Power Association (ACP). Clean power consists of wind, utility-scale solar and battery storage.
The new projects added to the grid represent $9.3bn in capital investment.
But the year-on-year quarterly growth rate of clean power installations slowed to 11% as 14 GW of projects faced delays, the trade association warned. The 11% compares with the 50% y/y growth rate reported between 2019 and 2021.
The capacity gain is largely due to gains in battery storage installation, with storage installations up 173%, solar installations up 11% and wind installations down 3%, as compared to the first quarter of 2021.
The federal Production Tax Credit, the main subsidy for wind installations, is expiring and the clean-power sector faces policy uncertainty, with as yet no clear path forward in Congress for extending or expanding the tax credit.
Wind projects also face supply chain delays and price hikes for commodities such as steel.
For solar, imports of panels from South-East Asia are dwindling as the US Department of Commerce probes them for unfair trade practices. Tariffs could be backdated, so the investigation is already affecting planned projects.