Within the first half of 2024, the US energy grid bought a significant enhance, with builders and energy plant homeowners including a hefty 20.2 gigawatts (GW) of latest utility-scale electrical producing capability.
Based on the newest figures from the US Vitality Data Administration (EIA), that’s a 21% improve – 3.6 GW extra – in comparison with the identical interval final yr. And if every little thing goes as deliberate, a further 42.6 GW of capability might 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 had been on the forefront, contributing 38% of the US photo voltaic additions. Standout tasks embody Nevada’s Gemini facility, which added 690 megawatts (MW) of photo voltaic and storage, and the 653-MW Lumina Photo voltaic Venture in Texas.
Battery storage can be on the rise. Battery storage is rapidly turning into a big participant, contributing 21% (4.2 GW) of the brand new capability within the first half of 2024. California, Texas, Arizona, and Nevada had been the new spots for these additions. The Gemini undertaking 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 displaying, 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 grew to become a significant milestone. Unit 4, a 1,114 MW reactor, went reside in April, making Vogtle the most important nuclear facility within the US with 4 reactors.
A slowdown in retirements. Apparently, the tempo of retiring previous 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 had been pure gasoline (53%) and coal (41%) crops. Notable retirements included Florida’s Seminole Electrical Cooperative’s Unit 1 and Pennsylvania’s Homer Metropolis Producing Station’s Unit 1, each of which had 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 come back from photo voltaic. If all goes in keeping with plan, 2024 might set a brand new report with 37 GW of photo voltaic capability added in a single yr – nearly double what we noticed in 2023.
Battery storage can be on monitor for a report yr, with 15 GW doubtlessly 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).
Learn extra: This startup’s warmth pump water heater syncs along with your photo voltaic
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