U.S. solar installations will fall more than expected this year, according to an industry report released on Thursday, due to weakened demand for residential systems and delays on large projects over concerns that President Donald Trump will impose tariffs on imported panels, increasing costs.
In a quarterly report, GTM Research said it expected U.S. installations to fall 22 percent to 11.8 gigawatts (GW) this year, down from a prior forecast that called for a decline of 17 percent. GTM conducted the analysis for the Solar Energy Industries Association trade group.
In the third quarter, market installations fell 51 percent to 2.03 GW. Last year was a particularly strong year for installations as developers raced to capture a federal tax credit that had been scheduled to expire at the end of 2016. The solar market is also expected to fall next year but will resume growth in 2019, GTM said.
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