SolarEdge sees U.S. solar growth slowing in 2023, European markets surging

Growth in the U.S. solar company is anticipated to gradual down in 2023, even as some European and Asian markets are poised to surge, SolarEdge Chief Financial Officer Ronen Faier stated on Thursday.

High prices and regulatory uncertainties will constrain U.S. image voltaic expansion, even even though the nascent Inflation Reduction Act (IRA) is anticipated to promote easy strength industries like photo voltaic over the lengthy run, Faier knowledgeable merchants at a Goldman Sachs convention in Miami, Florida.

“We believe…the IRA that is stabilizing very a total lot the advantage of the ITC (solar tax credit) for the next few years, does no longer put a lot of stress for in reality everybody to do some thing when interest expenses are quite high,” Faier said.

The combat in Ukraine, however, has despatched fees for oil and gasoline surging and boosted possibilities in Europe, the place countries like Germany have furnished beneficiant incentives for solar energy, said Faier, whose enterprise agency is based in Herzliya, Israel.

Some image voltaic markets in Europe, in unique in German-speaking nations and the United Kingdom, ought to jump with the useful resource of more than one hundred percentage over the year, he said. In the United States, that amplify is anticipated to be round 15%, he added.