More than 70% of announced U.S. solar manufacturing expansion plans yet to be financed

This is industry news about solar panel manufacturing in the U.S., not something that directly changes what a homeowner can do right now, but it offers a window into where solar equipment may come from in coming years.

New analysis finds that U.S. spending on solar panel factories is set to drop in 2027 compared to 2026, continuing a slowdown that started in 2025. Spending peaked in 2024 at nearly $4 billion, with more than half of that coming from just two companies, First Solar and Qcells. More strikingly, over 70% of manufacturing expansions that companies have announced over the past year or so, and that would require spending in 2027, do not yet have the money lined up or are stalled.

One wildcard looms over these numbers: Tesla's plans for a large-scale factory that would handle solar production from raw silicon ingots through finished panels. Analysts have not yet folded Tesla's plans into their forecasts, but say doing so could change the outlook significantly, since it is unclear when that spending will actually begin or how long the company will hold off using equipment it has already imported from China.

None of this changes rebates, prices, or installation timelines for homeowners today. But it matters for the longer-term picture of whether more solar panels will be built in the U.S. rather than imported, which can affect supply, pricing, and the pace of future clean-energy projects as the industry works through this slower stretch of investment.