US Community Solar Market to Add 7.6GW by 2028, Driven by State Incentives and LMI Growth.

The US community solar market is expected to add 7.6GW of capacity between 2024 and 2028, with over 14GW of community solar capacity installed across the country by 2028. This growth is driven by pipelines in existing state markets like New York and Illinois, with New York recently reaching 2GW of installed community solar. The report also noted that developers will benefit from incentives within the Inflation Reduction Act as soon as this year. However, Wood Mackenzie warns that due to the high dependence on state and federal legislation, there is more room for downside than upside in existing markets. The share of LMI subscribers in community solar has continued to increase, from 2% in 2022 to 10% in 2023.