Remarkable Growth for Solar Energy
As we embarked on 2024, the renewable energy sector witnessed a significant milestone with solar power leading the charge. Data recently released by the US Federal Energy Regulatory Commission (FERC) is a testament to this trend. Specifically, the “Energy Infrastructure Update“—analyzed by the SUN DAY Campaign—revealed that a staggering 2,527 megawatts (MW) of solar capacity was added in January alone. This figure represents an overwhelming 87.3% of all new energy installations and is only second to the record-breaking additions of December 2023.
Renewables’ Milestone Achievements
The incredible surge in solar was complemented by an additional 320 MW from wind energy, alongside smaller contributions from natural gas, oil, and other sources. Together, these increments have propelled the total renewable capacity—encompassing hydropower, biomass, and geothermal—to surpass that of coal, with renewables now boasting 376.33 gigawatts (GW) or 29.17% of the nation’s total generating capacity. Interestingly, solar energy alone has now eclipsed both nuclear and hydropower capacities, and this doesn’t even include the substantial small-scale, distributed solar arrays.
Future Projections Show Bright Outlook for Solar
Looking towards the future, FERC’s predictions are shining a bright light on solar’s potential growth. Between February 2024 and January 2027, solar capacity is projected to experience a net increase of 85,419 MW. Furthermore, the solar pipeline could introduce up to an astonishing 218,646 MW. In stark contrast, wind energy, hydropower, and geothermal are expected to see relatively modest gains, with the new Vogtle-4 nuclear reactor contributing 1,100 MW upon completion.
Shifts in Energy Capacity Predicted
As renewable energies continue to ascend, FERC forecasts a downturn for coal, natural gas, oil, and biomass capacities. By early 2027, if the high-probability additions come to fruition, solar will represent 13.83% of the total installed generating capacity, with wind close behind at 12.79%. Cumulatively, renewables could account for 35.45% of the total capacity, challenging natural gas’s dominance and dwarfing the combined capacity of coal, nuclear, and oil.
Conclusion
These developments unequivocally indicate that renewable energy, led primarily by solar, is reshaping the American energy landscape. With its continued ascendance, it’s posited to play an even more pivotal role in the mix of energy generation, proving that the future is not only bright but also sustainable.
