The solar industry is chock full of contradictions right now.
It’s led someto openly wonder: Is the residential solar industry going down?
Well, not quite.
“We are expecting a contraction.”
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Here’s what you should probably know about the state of the solar industry right now.
Why is the solar industry in rough shape?
“It definitely isa tough time for the residential solar market,” Gaston said.
Wood Mackenzie is predicting a 13% contraction in the residential solar market this year compared to last year.
But Gaston says it’s also expecting a rebound in 2025.
Here are the factors driving that prediction for 2024.
Wood Mackenzie is predicting 13% growth in residential solar in 2025.
By 2025, the IRA could give a more visible boost to solar sales.
“There’s kind of this lag for policy,” Michaud said.
“You’ve got to give it a year or two to see the fruits of that.”
“Some states may see quite a bit of growth this year,” Gaston said.
Is now a bad time to buy solar panels?
Some worry that a new administration could alter or reduce the available solar incentives.
“Do it now, if you’re interested,” Michaud said.
