– Solar energy is experiencing strong growth in both total capacity and electrical generation
– Renewable sources accounted for 98.3% of capacity additions in January
– Solar alone is expected to expand by 76.1% between 2023 and 2025, leading to an increase in renewables’ share of U.S. electrical generation
The SUN DAY Campaign reviewed data from FERC and EIA showing strong growth in solar capacity and generation in 2024, with projections for continued growth in the next few years. Solar accounted for the majority of new generating capacity in January, with renewable sources overall making up over 98% of capacity additions for the month. The total installed capacity of renewable energy sources now exceeds that of coal and nuclear power in the U.S.
FERC predicts that utility-scale solar capacity will surpass that of wind in the next two to three years, with significant additions expected for solar, wind, hydropower, and geothermal. The EIA also anticipates growth in utility-scale and small-scale solar generation, with renewables increasing their share of total U.S. electrical generation over the next few years.
Solar alone is projected to expand by 76.1% between 2023 and 2025, with wind also increasing in electrical generation. The growth of renewables in both capacity and generation signals a continued trend towards a greater reliance on renewable energy sources in the U.S. as they outperform traditional sources like coal and nuclear power.