Solar Panels – Industry in Turmoil
There have been some significant new legislation passed in the United States that is expected to impact the solar panel market significantly. Here is a summary of the critical pieces of legislation and their anticipated effects:
The Inflation Reduction Act (IRA) of 2022:
• Included new tax credits for domestic solar manufacturing to promote more U.S. supply chain production.
• Allocated billions for loans/grants to build new clean energy manufacturing facilities.
The impacts expected from the IRA include:
• Rapid acceleration of solar installations as the 30% tax credit provides strong economics for homeowners
and businesses to go solar.
• Major boost to U.S. solar manufacturing, reducing reliance on Chinese imports.
The CHIPS and Science Act of 2022:
• Provides over $50 billion in incentives for domestic semiconductor manufacturing, which includes components used in solar inverters.
Overall, industry analysts agree that this flood of new federal and state policies supporting solar will lead to a boom in U.S. solar deployment over the next decade. However, in the meantime, the market is being flooded with cheaper Chinese solar panels, which are currently pushing demand for Warehouses and Distribution across the nation.
AW2 Logistics is a nationwide logistics service headquartered in the Midwest. For many years, we have successfully warehoused, packaged, and distributed Solar Panels throughout the United States. AW2 Logistics provides the expertise and capacity you need to handle supply chain challenges and improve service to your client with our state-of-the-art facility, final mile, and white glove programs.
For more information, please contact, Dean Steiner, VP of Sales & Strategy, to discuss your needs in more detail, d.steiner@aw2logistics.com, 1-877-223-0605 or complete the contact form below.