Powering the Future: Solar’s Surging Role in Meeting Growing Energy Demands

Great to sit down with Bloomberg News yesterday to discuss the growing energy needs that are boosting solar demand across the residential, commercial, and utility-scale sectors. Electricity needs are growing in the US due to data centers, electrification of mobility and end-use appliances, and re-industrialization attributable to the CHIPS Act and over 50 new clean tech factories, including many of Nextracker Inc.’s supply partners, stimulated by the IRA policies.

Through decades of technological innovation, solar has achieved excellent efficiency and cost reduction, where solar is the lowest-cost way to generate electricity in many places in the world. As a result of affordability, speed of construction, low risk, and availability of capital, the U.S. Energy Information Administration is forecasting solar to grow at 26% annually for the next five years and, within a decade, be the number #1 source of energy in the USA. It’s an exciting time to be in renewable power and be expanding the domestic supply chain to advance supply security and energy independence while lowering costs for customers and creating jobs across the US.