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What will be the primary reason cited for the decline in residential solar installations in 2024?
4
Resolution / Starting Odds
High interest rates • 25%
Policy changes • 25%
Economic downturn • 25%
Supply chain issues • 25%
Surveys and reports from the solar industry and energy policy think tanks
Story
US Solar Installations Surge in Q1 2024, Making Up 75% of New Power Added
Jun 6, 2024, 04:00 AM
Solar power installations in the U.S. are reaching record highs, with solar energy projects making up 75% of new power added in the first quarter of 2024. This surge includes significant installations on old nuclear weapons sites, enough to power 400,000 homes. However, wind power is struggling, both on land and in the ocean. While solar and battery projects are growing in size and output, residential solar installations have fallen to their lowest level in two years due to high interest rates and policy changes in key states like Arizona. Despite these challenges, U.S. solar panel production is booming and could meet 70% of domestic demand. US solar installations hit a quarterly record in Q1 2024.
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Government subsidies • 33%
Technological advancements • 33%
Public demand • 34%
Load shedding • 33%
High demand • 33%
Supply shortages • 33%
Increase • 33%
Decrease • 33%
No Change • 34%
OPEC production cuts • 25%
Global economic conditions • 25%
Geopolitical tensions • 25%
Renewable energy adoption rates • 25%
Residential • 25%
Commercial • 25%
Industrial • 25%
Transportation • 25%
IMO2020 sulfur emission reductions • 33%
La Nina to El Nino transition • 33%
Other factors • 34%
No changes • 33%
Minor changes • 33%
Major changes • 33%
