
Within the first half of 2024, the US energy grid acquired a serious enhance, with builders and energy plant homeowners including a hefty 20.2 gigawatts (GW) of latest utility-scale electrical producing capability.
In line with the latest figures from the US Power Data Administration (EIA), that’s a 21% enhance – 3.6 GW extra – in comparison with the identical interval final yr. And if all the pieces goes as deliberate, a further 42.6 GW of capability may come on-line within the second half of the yr.
Photo voltaic leads from the entrance. Similar to in 2023, solar energy continues to dominate the scene, making up the most important share of latest capability. Within the first half of 2024, 12 GW of photo voltaic vitality got here on-line, accounting for a whopping 59% of all new capability. Texas and Florida have been on the forefront, contributing 38% of the US photo voltaic additions. Standout initiatives embrace Nevada’s Gemini facility, which added 690 megawatts (MW) of photo voltaic and storage, and the 653-MW Lumina Photo voltaic Challenge in Texas.
Battery storage can be on the rise. Battery storage is rapidly changing into a major participant, contributing 21% (4.2 GW) of the brand new capability within the first half of 2024. California, Texas, Arizona, and Nevada have been the new spots for these additions. The Gemini challenge additionally made headlines with its 380-MW battery storage, alongside Arizona’s 300-MW Eleven Mile Photo voltaic Heart.
Wind and nuclear energy make their mark. Wind energy additionally had a powerful exhibiting, including 2.5 GW, or 12%, of the brand new capability. Texas as soon as once more led the way in which with the Canyon Wind (309 MW) and Goodnight (266 MW) wind farms. On the nuclear entrance, Georgia’s Vogtle nuclear energy plant turned a serious milestone. Unit 4, a 1,114 MW reactor, went stay in April, making Vogtle the most important nuclear facility within the US with 4 reactors.
A slowdown in retirements. Apparently, the tempo of retiring outdated energy capability has slowed down this yr. Within the first six months of 2024, 5.1 GW of producing capability was retired, down from 9.2 GW throughout the identical interval in 2023. Nearly all of these retirements have been pure gasoline (53%) and coal (41%) vegetation. Notable retirements included Florida’s Seminole Electrical Cooperative’s Unit 1 and Pennsylvania’s Homer Metropolis Producing Station’s Unit 1, each of which have been coal-fired, and Massachusetts’ Mystic Producing Station, a pure gasoline plant.
What’s coming in H2 2024. There’s much more capability on the horizon within the second half of 2024. Builders are planning so as to add one other 42.6 GW, with almost 60% of that anticipated to return from photo voltaic. If all goes based on plan, 2024 may set a brand new file with 37 GW of photo voltaic capability added in a single yr – virtually double what we noticed in 2023.
Battery storage can be on monitor for a file yr, with 15 GW probably coming on-line. Texas and California are anticipated to account for 81% of this new storage capability.
On the flip aspect, we’re taking a look at 2.4 GW of capability set to retire within the second half of the yr, largely from coal (0.7 GW) and pure gasoline (1.1 GW).
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In the event you stay in an space that has frequent pure catastrophe occasions, and are interested by making your property extra resilient to energy outages, think about going photo voltaic and including a battery storage system. To be sure you discover a trusted, dependable photo voltaic installer close to you that gives aggressive pricing, take a look at EnergySage, a free service that makes it straightforward so that you can go photo voltaic. They’ve a whole lot of pre-vetted photo voltaic installers competing for your small business, making certain you get prime quality options and save 20-30% in comparison with going it alone. Plus, it’s free to make use of and also you gained’t get gross sales calls till you choose an installer and share your cellphone quantity with them.
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