U.S. solar industry week in review

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A boom in energy storage installations  With lowered costs, easing supply chains and steady demand, the U.S. is seeing huge growth in energy storage. Across all segments, the U.S. energy storage industry deployed 8.7 GW, a record-breaking growth of 90% year-over-year. The nation deployed 4.2 GW in Q4, 2023, and California and Texas installations accounted for 77% of Q4 additions, said a recent report by Wood Mackenzie.

California cuts interconnection costs if developers agree to export limitsThe California Public Utilities Commission (CPUC) has passed a decision allowing distributed renewable energy resources like residential solar and battery energy storage to interconnect to the grid without triggering grid impacts that require costly infrastructure upgrades.

More than $1 billion equity and debt financing for Avantus  Global investment firm KKR announced the signing of an agreement to acquire a majority stake in Avantus, marking KKR’s first U.S. investment under its global climate strategy. Following the close of the transaction, KKR and existing investor EIG, will be the sole equity investors in Avantus. Both equity sponsors secured commitments for a development financing facility alongside their equity commitments to the company, totaling upwards of $1 billion in the aggregate.

Tesla’s new power play  The first installations featuring the Tesla Powerwall 3 are currently being completed in the United States, with the company promoting a fully integrated solar-plus-storage and electric vehicle (EV) residential system, with big backup power capacity. While the first Powerwall created a new market segment, the latest iteration enters a marketplace in oversupply.

26 states receive failing grades in 2024 Community Power Scorecard.

Image: ILSR

U.S. states have a lot of work to do on energy policy  The Institute for Local Self-Reliance rates states on policies related to energy democracy and accountability, and with 26 receiving failing grades, this year’s scorecard suggests that states can do far better.

 

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