Solar panel installations are set to decrease in 2022 off of major supply chain issues and rising prices caused by inflation, according to an industry report.
New utility or large-scale industrial solar installations are expected to experience a decline of 14% year-over-year in 2022, the report published Thursday by the Solar Energy Industries Association (SEIA) and Wood Mackenzie showed. Utility-scale solar projects saw an average price increase of 18% over the last year.
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