According to the US Energy Information Administration (EIA), developers plan to install nearly 63 GW of utility-scale electricity capacity in the United States by 2024, with the majority coming from solar and batteries. It notes that the country added approximately 36.4 GW of solar in 2023.
The EIA has released its Preliminary Monthly Electric Generator Inventory, which includes projections for high-probability electric generation capacity additions in 2024.
The EIA expects nearly 63 GW of new capacity this year, far exceeding the 40 GW added in 2023. Last year saw the largest increase in grid capacity additions since 2023, and 2024 is expected to blow that out of the water.
Furthermore, solar and batteries are the most popular project types. Solar accounts for 58% of expected capacity additions in 2024, followed by batteries at 23%. This equals a record 36.4 GW of solar and 14.3 GW of battery energy storage.
These figures only include utility-scale projects, implying that solar has a larger share of the pie when distributed solar is included, such as rooftop residential and commercial behind-the-meter projects.
The EIA’s projection of 36.4 GW for utility-scale solar nearly doubles last year’s 18.4 GW increase, which set a new deployment record.
Texas is expected to be the clear leader in utility-scale solar, accounting for 35% of the nation’s total by 2024. It is followed by California (10%) and Florida (6%).
Meanwhile, total battery energy storage is expected to almost double this year. Throughout its history, the United States has installed approximately 15.5 GW of grid-scale batteries. The EIA expects 14.3 GW more storage to be installed and operational by 2024.
Source The EIA
