Massive Power Demand Boosting Solar in US, Nextracker CEO Says

Insatiable demand for electricity in the US will overpower headwinds facing the solar industry, leading to an unprecedented buildout of panels, according to Nextracker Inc. Chief Executive Officer Dan Shugar.

Utilities are desperate to line up new supplies to meet the needs of power-hungry data centers, plug-in cars and electric heating and cooling systems, said Shugar in an interview at Bloomberg’s bureau in San Francisco. At the same time, legacy fossil fuel and nuclear power plants are retiring and solar is one of the cheapest and fastest options available -- so there will be a lot more built, he said.

After more than a decade of relatively unchanged annual ...