– EIA expects electricity generation to grow by about 3% in 2024 and 1% in 2025, with renewable energy sources, primarily solar, supplying most of that growth.
– Solar, wind, and hydropower combined are expected to account for 22% of total US generation in 2024, increasing to 24% in 2025.
– EIA forecasts that solar generation will increase by 41% in 2024 compared to 2023, and solar is expected to exceed hydroelectricity in contribution to generation in 2025 for the first time in history.
The U.S. Energy Information Administration (EIA) predicts a 3% growth in electricity generation in 2024 and 1% in 2025, with renewable energy sources, primarily solar, supplying most of that growth. By 2025, solar is expected to exceed hydroelectricity in contribution for the first time in history. In 2024, solar, wind, and hydropower are projected to account for 22% of total U.S. electricity generation, increasing to 24% by 2025. Solar generation is expected to increase by 41% in 2024 compared to 2023, with wind growing by 5% and hydropower by 6%.
The May Short-Term Energy Outlook (STEO) also includes forecasts for U.S. retail gasoline prices, an increase in U.S. coal production and exports due to the closure of the Port of Baltimore, and the impact of the Trans Mountain Pipeline start-up on Canada’s liquid fuels production. The STEO supplement will analyze how refinery operations could affect retail gasoline prices during the summer driving season.
For more news and technical articles in the global renewable industry, Energy Global magazine’s Spring 2024 issue features discussions on battery storage solutions, renewables in Europe, and various technical articles on electrical infrastructure, turbine monitoring, battery storage technology, and coatings.