I’ve added electrification predictions for 2024 to my customary set of solar and storage predictions. Electrification incentives in the Inflation Reduction Act (IRA) are already starting to drive demand for heat pumps and electrical upgrades, just as tax credits accelerated the solar and EV markets in the past.
So here I go again sticking my neck out with these predictions for 2024:
- EVs will be equipped with integrated 240-volt generators for home backup and evening power
- Heat pump sales will surge by 25%
- Fewer than half of the newly announced clean energy manufacturing plants will be completed
- Utilities in other states will follow California’s lead to end Net Metering
- Residential solar revenues in California will plunge by 50%
- A national-scale solar installation company will file for bankruptcy
- Tesla will claw its way into the U.S. inverter business
- Virtual Power Plants (VPPs) and Vehicle to Grid (V2G) will not gain traction
- The residential battery system business will consolidate
- It’s Game Over for fossil fuels
For more details on my Ten Home Energy Predictions for 2024, please go to The Energy Show.