SEIA finds the solar industry isn’t on track to meet 2030 deployment goal
The Solar Energy Industries Association (SEIA) raises its target for the “Solar+ Decade”, focused on solar energy to take into account 30% of US electricity production by 2030. The organization’s previous target was 20% by 2030, and this revision aligns with the Biden administration’s clean energy goals while taking into account the growing urgency to tackle climate change and reduce carbon emissions in the electricity sector. .
As Congress debates infrastructure and budget legislation, the US faces the opportunity to build a clean energy economy this decade with solar energy as the primary source of new energy generation. Solar will account for 56% of all new additions to electric generating capacity in the first half of 2021, but the industry’s growth rate is not fast enough to address climate change in a meaningful way.
To achieve 30% solar by 2030 and meet President Joe Biden’s clean energy goals, the solar industry must double its pace of implementation. Without bold, long-term policy investments, solar energy will account for only 15% of electricity capacity by 2030, far short of what is needed to reduce emissions and tackle climate change.
“The destructive effects of climate change are happening now and it’s time to reinvent our entire electricity system,” said Abigail Ross Hopper, SEIA president and CEO. “The solar sector is leading the way in reducing emissions from the electricity sector, but we will fall far short of the 850 GW we need to reach 30% of electricity generation by 2030 without policies. It is time for lawmakers to respond to the urgency of this climate moment.”
The previous goal was for solar energy to reach 20% of all U.S. electricity generation by 2030. If the industry reaches 30% solar by 2030, the solar and storage industry will grow to 1 million employees and add more than $800 billion in new private sector investment.
This target is a crucial step in the fight against climate change. Providing 30% of US energy capacity with solar energy would reduce CO2 emissions from the electricity sector by 50%.
The goal also highlights an important opportunity to provide companies with policy certainty and long-term investments in domestic production.
“This goal is ambitious, but if we are intentional and have the right policies, we will create new opportunities for economic prosperity in every zip code in America,” Hopper said. “This is a once-in-a-generation opportunity that we should not pass up.”
Learn more about SEIA’s 2030 targets and the solar industry’s bold vision for the Solar+ decade.
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