Summer 2023 Solar Industry Update

6 8 << 7 Quarterly PV Installed (GWdc) L 0 + 3 л 6 U.S. Installation Breakdown Annual: SEIA (GWdc) Unlike the previous slide, these values are in GW dc-not GW₂ ac' According to SEIA data, the United States installed 6.1 GW dc of PV in the first quarter of 2023-up 47% from the first quarter of 2022-and the largest Q1 on record. Residential PV (1.6 GWdc) had its second biggest quarter ever, up 30%, y/y, which would have been even higher but for heavy rains slowing some installations. Utility-scale PV (6.1 GW dc) had its largest 1st quarter ever, aided by delayed projects coming on-line. C&I PV (0.6 GW dc) was up 9% during this period, though Community Solar was down due to interconnection and siting challenges. SEIA reports that over half of U.S. PV capacity installed in Q1 2023 was in California, Texas, and Florida. U.S. PV Installations by Market Segment Q1 2023 U.S. PV Installations by Region (6.1 GWdc) ■Utility Nonresidential PV Residential PV Q1Q2 Q3 Q4Q1Q2 Q3 Q4Q1Q2 Q3 Q4Q1Q2 Q3 Q4Q1Q2 Q3 Q4Q1Q2 Q3 Q4Q1Q2 Q3 Q4Q1 2016 2017 2018 2019 2020 Note: SEIA reports values in Wdc which is standard for the solar industry. Sources: Wood Mackenzie/SEIA: U.S. Solar Market Insight: Q4 2022. 2021 Other 8% Southwest 9% Texas 13% California 16% Midwest 5% 2022 ||23| Northeast Southeast 14% 9% Florida 27% NREL 31

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