New Wind & Solar Regulations

On Monday, May 13, the Federal Energy Regulatory Commission approved comprehensive changes to America’s electric grids. The changes will impact the planning and funding of grids.  The new rule represents the most substantial attempt in over a decade to upgrade and expand the electric grid. In the face of extreme weather from climate change and the push to the electrification of vehicles, our power grid urgently needs these changes.

Without action, the aging power grid will be more and more susceptible to blackouts, experts have warned. In addition, many renewable energy proposals have stalled throughout the country due to a lack of capacity in the grid.

With the new rule, grid operators will take a 20-year outlook at the country’s needs, rather than the reactionary, short-term viewpoint they’ve historically taken. Investment in and overhaul of the grid will be essential to combatting climate change and implementing such renewable energy sources as wind and solar.

Wind & Solar Regulations Impact on Manufacturers

The result will likely be a boon for wind and solar manufacturers. Short-term outlook for both industries is positive. Solar and wind will lead growth of US power generation over the next two years. Growth in these industries is tied to government investment and favorable tax credits, in large part from the Inflation Reduction Act of 2022.

Here at Fastco, we’ve seen a jump in our solar industry fasteners. From taking up less than .01% of our market share in 2022 to 3.5% in 2023, and climbing over 5% in 2024, solar industry fasteners have becoming a significant part of Fastco’s product mix. Therefore, we are excited for the continued growth of this industry.