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Solar & battery storage to spearhead U.S. power generation surge in 2024
The Business Guardian
|February 17, 2024
Solar and battery storage are new electricity generation in the United States in 2024, according to recent data released by the US Energy Information Administration (EIA).
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According to S&P Global Commodity Insights, with developers and power plant owners gearing up to add a substantial 62.8 gigawatts (GW) of capacity this year, solar and batteries will collectively account for an impressive 81 percent of this new capacity, marking a significant shift towards renewable energy sources.
The EIA's report, released on February 15, outlines a notable surge in capacity additions compared to the previous year.
In 2023, 40.4 GW of new capacity was added, marking the highest increase since 2003.
However, 2024 is expected to surpass this figure by a staggering 55 percent, highlighting the accelerating pace of renewable energy deployment.
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