TSLA - New California proposal would reduce subsidies to solar industry

Tough times could be coming for the solar industry due to supply chain constraints and rising costs for developers. The U.S. market is expected to grow 25% less than previously forecast during 2022, according to a new report by the Solar Energy Industries Association and Wood Mackenzie. Solar shipments were also disrupted for months after an anonymous group filed a petition with the U.S. Commerce Department asking tariffs to be extended to Vietnam, Thailand and Malaysia, though that the appeal was dismissed in November. Snapshot: Costs related to utility-scale solar projects had declined by 12% between Q1 2019 and Q1 2021, but the recent spike in the price of materials has erased two years' worth of cost declines. Despite the pressures, the U.S. installed solar capacity jumped 33% Y/Y to 5.4 GW, marking the most additions on record for Q3. America's total generating capability now consists of 1,200 GW, according

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New California proposal would reduce subsidies to solar industry