The photo voltaic business is bracing for a turbulent yr, and SolarReviews’ newly launched 2025 Photo voltaic Business Survey lays out precisely why. The survey, now in its third yr, gathered insights from photo voltaic corporations throughout the business between December 2, 2024, and January 3, 2025, overlaying every thing from the Inflation Discount Act to workforce growth and the state of the provision chain.
Ben Zientara, business and coverage analyst at SolarReviews, summed up the findings: “With pandemic-related provide chain points largely within the rearview mirror, the business is now overwhelmingly involved about political uncertainty and the potential for brand spanking new tariffs and modifications to photo voltaic incentives.”
The most important takeaway – the photo voltaic business is on edge about what’s coming in 2025. Greater than half (56%) of corporations flagged the potential for new tariffs as a serious concern, whereas 50% are fearful about modifications to photo voltaic incentives. Legislative and political uncertainty isn’t serving to both, with 46% of respondents citing it as certainly one of their largest fears. Contemplating that Trump’s declaration of a nationwide power emergency excluded photo voltaic from its definition of power sources, that’s unsurprising.
The end result of the 2024 US elections has additionally influenced enterprise confidence. A 3rd (34%) of respondents mentioned their outlook for 2025 grew to become extra adverse on account of election outcomes, whereas practically half (48%) reported no change. Solely 18% mentioned they felt extra optimistic about their enterprise prospects after the elections.
Regardless of these worries, most photo voltaic corporations stay resilient. Simply 7% of respondents mentioned they have been involved about staying in enterprise over the subsequent six months, whereas 38% anticipate to see their enterprise develop this yr.
One vibrant spot is the provision chain. Over the previous two years, provide chain disruptions have steadily improved, with 43% of companies reporting that situations have been higher in 2024 in comparison with 2023. That’s a slight dip from the earlier yr when 69% of corporations noticed an enchancment, however nonetheless a optimistic signal. Solely 11% mentioned provide chain points worsened year-over-year.
Residential photo voltaic installers proceed to evolve, increasing their providers past photo voltaic panels. The overwhelming majority (92%) of installers now provide power storage set up, up from 74% final yr. Equally, 86% of corporations are putting in EV chargers, up from 64% within the earlier yr.
Installers named Qcells, REC, and Silfab as their go-to photo voltaic module manufacturers, whereas Enphase, Tesla, and SolarEdge dominated the power cupboard space.
Nevertheless, one of many largest challenges in 2024 was the wave of photo voltaic firm closures. A staggering 81% of installers reported that at the very least one massive competitor of their service space shut down. Greater than 57% mentioned these closures led to adverse outcomes, together with a rise in service calls from clients left within the lurch by their former photo voltaic suppliers. To adapt, practically 1 / 4 of residential installers now provide third-party guarantee protection as a solution to enhance buyer confidence and safe extra gross sales.
Finally, US photo voltaic remains to be anticipated to proceed its progress trajectory and keep its prime management amongst power sources.
Learn extra: Renewables generated 24.2% of US electrical energy in 2024 – EIA knowledge
To restrict energy outages and make your private home extra resilient, think about going photo voltaic with a battery storage system. As a way to discover a trusted, dependable photo voltaic installer close to you that gives aggressive pricing, take a look at EnergySage, a free service that makes it simple so that you can go photo voltaic. They’ve a whole lot of pre-vetted photo voltaic installers competing for your small business, making certain you get high-quality options and save 20-30% in comparison with going it alone. Plus, it’s free to make use of and also you gained’t get gross sales calls till you choose an installer and also you share your cellphone quantity with them.
Your personalised photo voltaic quotes are simple to check on-line and also you’ll get entry to unbiased Vitality Advisers that will help you each step of the best way. Get began right here. –trusted affiliate hyperlink*
FTC: We use revenue incomes auto affiliate hyperlinks. Extra.
