IHS Markit predicts that the new utility-level photovoltaic installed capacity in the United States in 2021 will exceed 20GW. Between 2021-2025, Illinois, Virginia, Pennsylvania and Kentucky will all have large-scale photovoltaic backup projects.
In 2021, the midwestern and southern parts of the United States will account for 60% of the country’s photovoltaic installations, mainly in states such as Illinois, Ohio, Georgia, Florida, and Texas. The main driving force is that public utilities in these regions need to achieve varying degrees of renewable energy and emission reduction targets. Similarly, in the southeastern United States, large energy companies such as Duke Energy, Georgia Power, Dominion Energy, and Florida Power & Light are also actively purchasing solar photovoltaic power generation. In the southwest, the deployment of large-scale photovoltaic facilities in Texas will continue until 2025.
IHS Markit also predicts that the installed capacity of energy storage projects in the United States will exceed 5GW in 2021. The extension of ITC will likely improve the economic feasibility of the solar + energy storage system, and enable energy storage projects and photovoltaics to be co-built at the same location, thereby benefiting from the decline in taxes.