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Saturday, March 15, 2025

Photo voltaic in 2025: Here is what’s preserving the business up at night time


The photo voltaic business is bracing for a turbulent yr, and SolarReviews’ newly launched 2025 Photo voltaic Trade Survey lays out precisely why. The survey, now in its third yr, gathered insights from photo voltaic corporations throughout the business between December 2, 2024, and January 3, 2025, protecting the whole lot from the Inflation Discount Act to workforce improvement and the state of the provision chain.

Ben Zientara, business and coverage analyst at SolarReviews, summed up the findings: “With pandemic-related provide chain points largely within the rearview mirror, the business is now overwhelmingly involved about political uncertainty and the potential for brand spanking new tariffs and modifications to photo voltaic incentives.”

The most important takeaway – the photo voltaic business is on edge about what’s coming in 2025. Greater than half (56%) of corporations flagged the potential of new tariffs as a significant concern, whereas 50% are fearful about modifications to photo voltaic incentives. Legislative and political uncertainty isn’t serving to both, with 46% of respondents citing it as one among their largest fears. Contemplating that Trump’s declaration of a nationwide power emergency excluded photo voltaic from its definition of power sources, that’s unsurprising.

The end result of the 2024 US elections has additionally influenced enterprise confidence. A 3rd (34%) of respondents mentioned their outlook for 2025 turned extra unfavorable attributable to election outcomes, whereas practically half (48%) reported no change. Solely 18% mentioned they felt extra optimistic about their enterprise prospects after the elections.

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Regardless of these worries, most photo voltaic corporations stay resilient. Simply 7% of respondents mentioned they have been involved about staying in enterprise over the following six months, whereas 38% anticipate to see their enterprise develop this yr.

One vivid spot is the provision chain. Over the previous two years, provide chain disruptions have steadily improved, with 43% of companies reporting that circumstances have been higher in 2024 in comparison with 2023. That’s a slight dip from the earlier yr when 69% of corporations noticed an enchancment, however nonetheless a constructive signal. Solely 11% mentioned provide chain points worsened year-over-year.

Residential photo voltaic installers proceed to evolve, increasing their companies past photo voltaic panels. The overwhelming majority (92%) of installers now supply power storage set up, up from 74% final yr. Equally, 86% of corporations are putting in EV chargers, up from 64% within the earlier yr.

Installers named Qcells, REC, and Silfab as their go-to photo voltaic module manufacturers, whereas Enphase, Tesla, and SolarEdge dominated the power cupboard space.

Nevertheless, one of many largest challenges in 2024 was the wave of photo voltaic firm closures. A staggering 81% of installers reported that no less than one massive competitor of their service space shut down. Greater than 57% mentioned these closures led to unfavorable outcomes, together with a rise in service calls from prospects left within the lurch by their former photo voltaic suppliers. To adapt, practically 1 / 4 of residential installers now supply third-party guarantee protection as a solution to enhance buyer confidence and safe extra gross sales.

In the end, US photo voltaic continues to be anticipated to proceed its development trajectory and preserve its prime management amongst power sources.

Learn extra: Renewables generated 24.2% of US electrical energy in 2024 – EIA knowledge


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