The Solar & Wind Industry will boom soon in the United States

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Inflation Reduction Act Impact on Solar & Wind Industry

Additionally, some IRA advantages are dependent on criteria for domestic content. It will take time for the US to increase energy panel production and its supply chain. Whether or not we actually reach 40 to 50GW of capacity is highly questionable at this point.

According to the report, it will take until 2024 for the solar industry to start taking advantage of the IRA. The study group has also stated that the new act will have a significant positive impact on offshore wind. On the other hand, it warns that there are not many wind turbine installation vessels available that can meet U.S. criteria.

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