EDF Renewables
A SUN DAY Campaign review of the half-year data just released by the Federal Energy Regulatory Commission (FERC) shows that the mix of renewable energy sources (biomass, geothermal, hydro, solar and wind) now accounts for 30% of total U.S. electricity generation capacity. In addition, June was the 10th consecutive month that solar was the largest source of new capacity, putting it on track to become the country’s second-largest source of capacity within three years – behind only natural gas.
Renewable energies accounted for 99% of new generation capacity in June and 91% in the first half of 2024
In its most recent monthly Energy Infrastructure Update (with data through June 30, 2024), FERC reports that 37 “units” of solar power totaling 2,192 MW and one hydroelectric unit of 34 MW came online in June. Together, they accounted for 98.9% of all new generating capacity added during the month. Natural gas and oil provided the rest: 20 MW and 5 MW, respectively.
In the first half of 2024, solar and wind added 13,072 MW and 2,129 MW, respectively. Together with 212 MW of hydropower and 3 MW of biomass, renewables accounted for 91.2% of the capacity added. The rest consisted of the 1,100 MW Vogtle-4 nuclear reactor in Georgia, as well as 369 MW of gas, 11 MW of oil and 3 MW of “other”.
Solar energy accounted for 97% of new capacity in June and 77% in the first six months of 2024
The new solar capacity added from January to June this year was more than double the solar capacity added in the same period last year (6,446 MW). Solar energy accounted for 77.4% of the total new power generation commissioned in the first half of 2024.
The largest share of this balance was new wind capacity since the beginning of the year (12.6%), but this was slightly less than the capacity added during the same period in 2023 (2,761 MW).
In June alone, 97.4 percent of the total newly created capacity was solar energy, followed by hydropower (1.5 percent).
Solar energy has now been the largest source of new generation capacity for ten months in a row: September 2023 to June 2024. In seven of those ten months, wind energy took second place.
Over the last decade, solar capacity has increased more than tenfold, while wind capacity has doubled.
Between July 1, 2014, and June 30, 2024, the installed capacity of solar power systems increased from 9.25 GW to 116.80 GW, and its share of total installed U.S. electricity generation capacity increased more than tenfold, from 0.8% to 9.0%. At the same time, the share of wind energy doubled from 5.3% to 11.8%. The installed capacity of all renewables also doubled, from 190.26 GW to 389.00 GW, while its share of total capacity increased from 16.3% to 30.0%.
The growth in solar capacity was particularly pronounced. From a share of 0.8 percent in June 2014, the solar share rose to 3.3 percent in the following five years (i.e. up to June 2019) and to 7.0 percent a year ago. In the following six months – i.e. up to January 1, 2024 – the solar share rose to 7.9 percent and is now – just six months later – at 9.0 percent.
At the same time, the share of coal in installed capacity fell from 28.4 percent in 2014 to 15.8 percent today, and the share of nuclear energy fell from 9.2 percent to 8.0 percent. The share of natural gas has fluctuated between 42 and 44 percent over the last decade.
Solar and wind energy now account for more than a fifth of US electricity generation capacity
Combined capacities from solar and wind energy alone now account for more than one-fifth (20.7%) of the country’s total available installed utility-scale generation capacity.
However, a third or more of U.S. solar capacity consists of small systems (e.g., rooftops), which are not included in FERC’s data. Including this additional solar capacity would bring solar and wind power to nearly a quarter of the country’s total capacity. (2)
Solar energy ranks fourth in terms of its share of US electricity generation capacity
Recent capacity additions have increased solar’s share of total installed utility-scale (i.e. > 1 MW) electricity generation capacity to 9.0%, further extending its lead over hydropower (7.8%). Wind power currently stands at 11.8%. Combined with biomass (1.1%) and geothermal (0.3%), renewables now account for 30.0% of total U.S. utility-scale electricity generation capacity.
Installed utility-scale solar power now ranks fourth in terms of share of electricity generation capacity – behind natural gas (43.3%), coal (15.8%) and wind – after recently overtaking nuclear power (8.0%).
Solar energy will soon be the second largest source of US electricity generation capacity
According to FERC, net solar energy additions between July 2024 and June 2027 are likely to total 88,526 MW—almost four times the projected net addition of wind energy (23,851 MW), the second fastest-growing energy source.
FERC also forecasts growth in hydropower (1,240 MW), geothermal (400 MW) and biomass (90 MW). On the other hand, FERC’s three-year forecast does not foresee any new nuclear capacity, while coal, natural gas and oil are expected to decline by 20,542 MW, 3,106 MW and 1,629 MW, respectively.
If FERC’s current “highly likely” additions become reality, solar will account for more than one-seventh (14.8%) of the nation’s installed utility-scale electric generation capacity by July 1, 2027. That would be more than coal (13.3%) or wind (12.7%), and significantly more than nuclear (7.5%) or hydroelectric (7.4%). Solar’s installed utility-scale capacity would move to second place, behind only natural gas (40.3%).
The mix of all renewable energy sources would now account for 36.3 percent of the total installed power plant capacity, quickly approaching that of natural gas. Solar and wind energy would account for more than three quarters of the installed capacity of renewable energies.
The combined capacity of all renewable energy sources, including small-scale solar, is expected to surpass that of natural gas within three years.
As mentioned above, FERC’s data does not take into account the capacity of small solar plants. If this is taken into account, total U.S. solar capacity (both small and large) is expected to reach – and very likely exceed – 300 GW within three years. The share of all renewables would then exceed 40% of total installed capacity, while the share of natural gas would drop to about 37%.
In addition, FERC reports that the current three-year plan could actually include up to 212,673 MW of net solar additions, in addition to 72,387 MW of wind, 8,303 MW of hydro, 509 MW of geothermal, and 159 MW of biomass. Thus, the share of renewable energy could be even greater by early summer 2027.
“With each passing month, renewable energy — especially solar — is increasing its contribution to the nation’s electricity capacity,” noted Ken Bossong, executive director of the SUN DAY campaign. “A decade ago, solar energy accounted for just a fraction of a percent; today it accounts for nearly a tenth of U.S. electricity generation capacity and is expected to reach 15 percent in three years.”
News article from The Sun Day campaign
