Solar Industry Update

10 8 00 6 st N U.S. Installation Breakdown Quarterly: SEIA (GWdc) Wood Mackenzie/SEIA reports a record first half of PV installations, with 11.8 GWdc installed in H1 2023-an increase of 34% y/y. - Big growth occurred year over year in the residential and utility-scale space, with Q2 residential installations hitting another record level of deployment. SEIA reports that the growth comes despite uncertainties that remain in receiving IRA benefits, higher interest rates, and challenges with UFLPA compliance. Nonresidential installations were mostly flat, with SEIA citing continued impacts of interconnection delays, supply chain constraints, and uncertainty over IRA implementation. U.S. PV Installations by Market Segment Utility | Nonresidential PV Residential PV Unlike the previous slide, these values are • in GWdc-not GWac. Installations typically fall after Q4 and this Q1 was particularly large due to delays in projects originally intended for a Q4 installation. Florida, California, and Texas continue to lead installations, accounting for 46% of H1 2023 installations. - However, 27 states installed more than 100 MW in the first half of the year. H1 2023 U.S. PV Installations by Region (11.8 GWdc) Southeast 11% Northeast 10% Florida 21% Quarterly PV Installed (GWdc) Q1Q2 Q3 Q4Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2017 2018 2019 2020 2021 Sources: Wood Mackenzie/SEIA: U.S. Solar Market Insight: Q3 2023. 2022 2023 Southwest 15% Other 8% Midwest 10% California Texas 11% 14% NREL 16

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