U.S. solar industry will grow 25% less than expected in 2022, report finds


Rows of solar panels at the Toms River Solar Farm which was built on an EPA Superfund site in Toms River, New Jersey, U.S., 26 May, 2021.

Dane Rhys | Reuters

The U.S. solar industry will grow 25% less than previously forecast during 2022 thanks to supply chain constraints and rising raw material costs, according to a report released Tuesday by the Solar Energy Industries Association and Wood Mackenzie.

The quarterly update showed that prices continue to rise as the industry grapples with the same cost pressures impacting every corner of the economy. Additionally, trade uncertainty has also weighed on the solar industry.

During the third quarter costs rose across the utility, commercial and…


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