EIA expects 62.8 GW to come online in 2024, led by solar, energy storage

Source: Ethan Howland | · UTILITY DIVE · | August 19, 2024

Also, the pace of power plant retirements slowed in the first half of this year to 5.1 GW, down from 9.2 GW in the same period last year, the Energy Information Administration said.

The Energy Information Administration expects power plant developers and owners will add 62.8 GW this year in the United States, up 55% from 2023 when 40.4 GW came online, the agency said Monday.

Developers and power plant owners brought 20.2 GW online in the first six months this year, adding 3.6 GW, or 21%, more than in the same period last year, the EIA said. The agency expects another 42.6 GW will be added in the second half this year.

About 12 GW of utility-scale solar came online in the first half, accounting for 59% of all new capacity, according to the EIA. Texas and Florida made up 38% of U.S. solar additions, the agency said.

In the first half, developers and utilities installed 4.2 GW of battery storage — almost all in California, Texas, Arizona and Nevada — 2.5 GW of wind and 1.1 GW of nuclear generation, according to the EIA.

Looking at the second half, U.S. developers plan to add 25 GW of solar, 10.8 GW of battery storage and 4.6 GW of wind, the EIA said. If those amounts are brought online, 2024 would set records for the most solar and battery storage additions in a single year, according to the agency.