The United States has crossed a critical milestone on the clean energy track as solar module production capacity has crossed 50 gigawatts in the country, according to the Solar Energy Industries Association. This milestone is an important stepping stone toward establishing a strong domestic solar supply chain that can meet the entire nation’s solar demand without relying on offshore imports. All these factories, working at their maximum capacities, would be able to power millions of homes, furthering US energy security and the clean energy transition.

Driving Energy Independence Through Domestic Manufacturing

This milestone highlights the US solar industry’s growth, supported by strategic policies that promote domestic manufacturing and innovation. Abigail Ross Hopper, President and CEO of the Solar Energy Industries Association (SEIA), said, “Reaching 50 GW of domestic solar manufacturing capacity is a testament to what we can achieve with smart, business-friendly public policies in place.”

She added, “The U.S. is now the third largest module producer in the world because of these policy actions. This milestone not only marks progress for the solar industry but reinforces the essential role energy policies play in building up the domestic manufacturing industry that American workers and their families rely on.”   

Exceeding Ambitious Goals Ahead of Schedule

In 2020, SEIA aimed for 50 GW of US solar capacity by 2030—equal to 27 Hoover Dams’ output. Back then, the US had just 7 GW of module capacity and minimal infrastructure for polysilicon, inverters, and solar cells. Thanks to industry investments, tech advancements, and supportive policies, the US surpassed its solar goal six years early.

The rapid growth is evident across the solar supply chain. Companies plan to add 56 GW of solar cells, 24 GW of wafers, and 13 GW of ingot production. Moreover, solar tracker manufacturing capacity has surged past 80 GW, highlighting the industry’s remarkable momentum.

Also read: US achieves clean energy milestone on public lands

The Role of Strategic Policies in Solar Growth

This milestone was made possible through deliberate policy actions that incentivized domestic manufacturing. SEIA actively pushed for the Advanced Manufacturing Production Tax Credit and incentives supporting solar projects using US-made products. Additionally, under the CHIPS and Science Act of 2022, SEIA successfully pushed for solar ingot and wafer production to qualify for a 25% investment tax credit, further stimulating growth in these critical areas.

These policies have boosted module production and sparked growth in upstream manufacturing, strengthening the entire US solar supply chain. New solar factories in Georgia and South Carolina highlight how smart policies fuel growth, create jobs, and inspire innovation.

DevvStream Corp., a prominent firm specializing in the co-development and generation of carbon credit projects through technology-based solutions, has announced its official admittance into the Singapore Carbon Market Alliance (SCMA). The SCMA, led by Singapore’s Economic Development Board and IETA, is an exclusive platform for trading greenhouse gas reductions.

Expanding Opportunities Under Article 6

The SCMA focuses on high-integrity carbon credits that align with Article 6 of the Paris Agreement. This key framework allows countries with cooperative agreements with Singapore to trade carbon credits, supporting global climate action efforts. Currently, Singapore maintains such agreements or Memorandums of Understanding with over two dozen countries, including Indonesia, the Philippines, and Brazil.

DevvStream aims to gain Eligible Entity status through SCMA, allowing direct engagement with countries under Singapore’s implementation agreements. This status will unlock strong offtake channels for DevvStream’s Article 6 carbon credits and growing international renewable energy certificates.

Also read: SEER and DevvStream Join Forces to Monetize Carbon Credits

The Importance of Article 6 to DevvStream’s Growth

Article 6 of the Paris Agreement supports global climate efforts by creating mechanisms for emissions reductions through carbon credits. Though aimed at governments, companies like DevvStream play a crucial role in developing projects that generate Article 6 credits.

With SCMA membership, DevvStream aims to produce carbon credits from emission projects in partner countries, enabling direct sales to Singapore. DevvStream expects to boost sales as one of the few project developers within the SCMA.

Sunny Trinh, CEO of DevvStream, said, “When COP29 members authorized emissions trading under Article 6.4 last year in Baku, the vision was to create a global compliance carbon market that will create a level of demand that would dwarf the demand we currently see in the Voluntary Carbon Market.”

He added, “As such, any credit that has a realistic pathway to Article 6 compliance should be reasonably expected to trade at a substantial premium, and initial evidence suggests this is indeed the case. DevvStream is proud to have been invited to join the SCMA and looks forward to becoming an Eligible Entity in Singapore, creating a clear mechanism for achieving compliance with Article 6 and conducting sales directly with the Singaporean government.”

Joining the SCMA is a key milestone for DevvStream, advancing its leadership in carbon credits and renewable energy in ASEAN.