Thornova Solar Insights for March. 14, 2024

Partner Spotlight

Frankensolar Americas and Thornova Solar will be holding the first Summer Kickoff Networking Event to welcome the brightest and busiest season in solar!

As the days warm up, join us for a night of drinks and meet the industry on June 20th at The 6ix Lounge in Mississauga, ON. Secure your spot while they are available!

Register now: https://lnkd.in/g55quNiW

Trendlines

• Report: Massachusetts clean energy jobs increased by 80% since 2010

The Massachusetts Clean Energy Center (MassCEC) published its “2023 Massachusetts Clean Energy Industry Report,” which highlights the state’s clean energy industry growth, being home to over 108,000 direct clean energy workers. The state’s clean energy industry has grown 80% since 2010, or approximately 48,176 jobs.

Opportunities

• The top five states for solar deployment in 2023

Ohio ranked fifth in solar deployment, increasing its installation totals year-over-year by 1,230%, with 1.3 GW installed. Colorado ranked within the top five for the first time since 2010, with 1.6 GW installed. Florida maintained its spot as number three in solar deployment for the fifth year straight, adding a record 3.2 GW in 2023. California ranked second, adding 6.2 GW of new solar. Texas has moved to the front for solar installations, adding 6.5 GW in 2023.

Policy

• Final IRS rules released on IRA direct pay and transferability

The Dept. of the Treasury and the Internal Revenue Service (IRS) released final rules on key provisions in the Inflation Reduction Act (IRA) to expand the reach of the clean energy tax credits. The final rules lay out the process and timeline to claim and receive an elective payment. Treasury also issued a separate Notice of Proposed Rulemaking (NPRM).

• Policy recommendations to support U.S. rooftop solar installation

Rooftop solar has the technical potential to serve 45% of electricity demand. On average, new-build solar costs 29% less than the next-cheapest fossil fuel alternative, said a report from Ernst and Young. Environment America made a series of policy recommendations for states and local governments to help tap the massive potential of U.S. rooftops in a recent report.

Product Spotlight

Our 550W bifacial double-glass PERC modules, with 21.3% efficiency and backed by a comprehensive 15-year product warranty and 30-year performance warranty, are the ideal choice for your C&I projects.