Solar, wind to lead US power generation growth for the next 2 years

baua


The US Energy Information Administration (EIA) forecasts that solar and wind will lead US power generation growth for the next two years in its latest Short-Term Energy Outlook.

As a result of new solar projects coming online in 2024, the EIA forecasts that US solar power generation will grow 75% from 163 billion kilowatt hours (kWh) in 2023 to 286 billion kWh in 2025.

The EIA also expects wind power generation to grow 11% from 430 billion kWh in 2023 to 476 billion kWh in 2025.

In 2023, the US electric power sector produced 4,017 billion kWh of power. Renewable sources – wind, solar, hydro, biomass, and geothermal – accounted for 22% of generation, or 874 billion kWh, last year. Annual renewable power generation surpassed nuclear for the first time in 2021 and coal for the first time in 2022.

The EIA notes that wind and solar developers often bring their projects online at the end of the calendar year, so that tends to affect generation growth trends for the following year.

Solar is the fastest-growing renewable source because of the larger capacity additions and favorable Inflation Reduction Act tax credits. Planned solar projects increase solar capacity operated by the electric power sector 38% from 95 gigawatts (GW) at the end of 2023 to 131 GW by the end of 2024.

The EIA expects wind capacity to stay relatively flat at 156 GW by the end of 2024, compared with 149 GW in December 2023.

In contrast, coal power generation will decline 18% from 665 billion kWh in 2023 to 548 billion kWh in 2025, natural gas will continue to be the largest source of US electricity generation, with about 1,700 billion kWh of annual generation in 2024 and 2025 – similar to 2023. Nuclear power generation will also stay relatively flat, rising from 776 billion kWh in 2023 to 797 billion kWh in 2025.

Read more: Good news – the world has a real chance of achieving its goal of tripling renewables by 2030

Photo: Duke Energy


If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –ad*

FTC: We use income earning auto affiliate links. More.

Which major automaker might be partnering with Fisker for an electric pickup? Should EV charging…

Thanks to electric bikes, more people than ever before are discovering the joys of car-free…

Chile also aims to reach 100% in EV sales by 2035 and could well lead…