The US Federal Energy Regulatory Commission (FERC) and the Energy Information Administration (EIA) have published reports indicating an increase in the share of renewable sources in the total volume of electricity generated in the country. The share of renewable sources (biomass processing, geothermal and solar energy, hydropower and wind generation) in the total volume of industrial generation in the United States exceeded 30% and will grow to 37% by the end of 2027.
Image source: Copilot
In addition, in the first 10 months of this year, renewable sources accounted for all of 24% of the energy generated in the country. In doing so, October marked the fourteenth consecutive month in which solar power was the largest source of new capacity, making it the second-largest source of capacity in the country, behind only natural gas. In the first ten months of 2024, renewables accounted for more than 90% of new generation capacity.
According to FERC, 41 solar energy facilities with a total capacity of 1,970 MW came online in October, as well as three wind energy facilities with a capacity of 174 MW. These facilities accounted for 99.9% of all new generating capacities put into operation during the month. New natural gas power facilities generate only 3 MW of energy.
In the first ten months of 2024, solar and wind added 21,425 MW and 2,799 MW of capacity, respectively. Combined with 213 MW of hydropower and 6 MW of biomass, 90.5% of the added capacity came from renewable energy sources. Solar power accounted for 91.8% of new capacity in October and 79.3% during the first ten months. Solar energy continues to be the largest source of new generation capacity from September 2023, i.e. 14 months in a row.
Solar and wind power currently account for 21.2% of total generating capacity in the United States. However, about a third of the total solar energy generated comes from small systems, such as those placed on rooftops, which is not reflected in the FERC report. Taking into account such systems, the share of solar and wind energy will approach a quarter of the total energy generated in the United States.
Image Source: Unsplash/American Public Power Association
FERC forecasts solar capacity additions of 93,803 MW between October 2024 and September 2027, more than four times the 23,261 MW forecast for wind power, the second-fastest growing source. The agency’s forecast does not include nuclear power, but it does note that capacity from coal, oil and natural gas will decline by 19,863 MW, 2,244 MW and 90 MW, respectively, over the same period.
If FERC’s “high probability” forecast is correct, solar will account for nearly a sixth (15.5%) of total U.S. energy generation capacity by October 1, 2027. This would be more than coal (13%) or wind (12.6%), and significantly more than nuclear (7.4%) or hydropower (7.3%). This will move utility-scale solar installed capacity to second place, second only to natural gas (40.3%). At the same time, the total capacity of all renewable energy sources will amount to 36.7% of the total capacity generated in the country.
As noted, FERC’s data does not take into account the capacity of small systems. If we take this into account, then within three years the total solar energy capacity in the country will approach, and possibly exceed, 300 GW. In turn, the share of all renewable sources will exceed 40% of total installed capacity, and the share of natural gas will decrease to approximately 37%.
Utility-scale solar thermal and photovoltaic power grew 30.8% in the first 10 months of 2024, according to the EIA. During that same time, the small solar energy systems segment grew 15.8%, making solar the fastest-growing energy source in the United States. For comparison, the natural gas segment grew by 4.1% over 10 months, and nuclear energy by 0.7%; generated capacity at coal plants decreased by 4%.