US to add 63 GW of solar capacity by end 2024
The US government plans to add another 63 GW of solar capacity by the end of 2024.
The Energy Information Administration (EIA) expects solar and wind power to account for 16% of electricity generation this year. This doubles the 8% contribution made in 2018. By 2024, renewables will account for more than a quarter of the country's electrical generation. Solar may reach 6% of power, while wind is forecast to add 12 GW of capacity over the next two years, reaching approximately 12% of the overall generation mix.
In the meantime, solar and wind are displacing fossil fuels from the power system. The EIA expects coal to drop from 20% to 18% and natural gas to drop from 38% to 38% this year.
Country updates
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January 23, 2023
McKinsey forecasts demand of 4.7 TWh of Li-ion battery in 2030
McKinsey Battery Insights predicts that demand for lithium-ion (Li-ion) batteries would increase to approximately 4.7 TWh by 2030, up from 700 GWh in 2022. According to the consulting firm, between 12...
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January 19, 2023
Duke Energy buys 175 MW solar and storage project in Colorado
Duke Energy has purchased from JUWI Inc. the 175 MW Pike solar photovoltaic (PV) with energy storage project in Colorado, USA. The solar farm, which is being constructed to serve Colorado Springs Uti...
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January 19, 2023
Lightsource bp closes US$267mn tax equity financing for two solar projects in Louisiana and Arkansas
Lightsource bp has successfully closed on a US$267 million tax equity investment from Wells Fargo & Co which complements the debt financing package which originally closed in December 20...
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January 19, 2023
Nautilus buys 54 MW community solar projects in New York
Nautilus has announced that it has acquired 54 MW of solar photovoltaic (PV) projects from Seaboard in New York, USA. The portfolio consists of nine community solar projects which are anticipated to b...
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January 18, 2023
Sol Systems invests in 190 MW solar PV project in Texas
Sol Systems, LLC has acquired a 190 MW solar development project from ABEI Energy in Uvalde County, Texas, USA. Sol Systems will build, own, and manage the facility, which will power over 100,000 hom...
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