Solar is the major driver of this energy transition. EIA said that solar will provide 41% more electricity in 2024 than in 2023.

The U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, forecasting that the total electricity generation capacity in the United States will increase 3% in 2024 and 1% in 2025.

“Renewable energy sources—chiefly solar—will supply most of that growth,” said EIA.

Solar, wind, and hydropower in 2023 combined for roughly 21% of electricity generation in the United States. EIA expects this figure to grow to 24% in 2025.

Solar is the major driver of this energy transition. EIA said that solar will provide 41% more electricity in 2024 than in 2023. EIA said the 19 GW of solar capacity added in 2023 and the over 37 GW expected this year account for the large jump in generation. In 2025, total solar generation is expected to grow another 25%.

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Source: PV Magazine

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CA is being powered by more clean energy than ever before, breaking records & accelerating our progress towards a 100% clean electric grid.

WHAT TO KNOW: California is being powered by more clean energy than ever before, breaking records and accelerating our progress towards a 100% clean electric grid.

SACRAMENTO – Heading into Earth Week, the state’s electric grid racked up a series of accomplishments never before seen in California history. By bringing on more sources of clean electricity and diversifying the state’s energy portfolio, clean energy has been exceeding the demands of nearly 40 million people and the world’s 5th-largest economy.

EXCEEDING DEMAND WITH 100% CLEAN ELECTRICITY: During 31 of the past 43 days, clean energy exceeded grid demand consumed at a point during the day; that’s compared to only seven days all of last year. And, it was only two years ago in May that California first even momentarily met demand with 100% clean energy.

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Source: CA.gov

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CA, TX and FL are leading the country in solar power generation, while TX, IA and OK are the leaders in wind energy, per a new analysis.

California, Texas and Florida are leading the country in terms of solar power generation, while Texas, Iowa and Oklahoma are the leaders in wind energy, per a new analysis.

Why it matters: Solar and wind power are producing a comparatively small but growing share of America’s overall energy supply — yet they make up a bigger slice of the energy pie in some states compared to others.

The big picture: Solar installations generated nearly 240,000 gigawatt-hours (GWh) of electricity across the U.S. in 2023, per the analysis from Climate Central, a climate research nonprofit.

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Source: AXIOS

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For the first time in history, solar accounts for over 50% of new electricity capacity added to the grid..

The U.S. solar industry added a record-shattering 32.4 gigawatts (GW) of new electric generating capacity in 2023, a 37% increase from the previous record set in 2021 and a 51% increase from 2022.

According to the U.S. Solar Market Insight 2023 Year in Review released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, solar accounts for 53% of all new electric generating capacity added to the grid last year. This marks the first time in 80 years that a renewable electricity source has accounted for over 50% of annual capacity additions.

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Source: SEIA

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Developers and power plant owners plan to add 62.8 gigawatts (GW) of new utility-scale electric-generating capacity in 2024.

Developers and power plant owners plan to add 62.8 gigawatts (GW) of new utility-scale electric-generating capacity in 2024, according to our latest Preliminary Monthly Electric Generator Inventory. This addition would be 55% more added capacity than the 40.4 GW added in 2023 (the most since 2003) and points to a continued rise in industry activity. We expect solar to account for the largest share of new capacity in 2024, at 58%, followed by battery storage, at 23%.

Solar. We expect a record addition of utility-scale solar in 2024 if the scheduled 36.4 GW are added to the grid. This growth would almost double last year’s 18.4 GW increase, which was itself a record for annual utility-scale solar installation in the United States. As the effects of supply chain challenges and trade restrictions ease, solar continues to outpace capacity additions from other generating resources.

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Source: EIA.gov

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The global floating solar panel market is estimated to grow at a CAGR of 27.57% to reach US$2, 797.556M in 2028 from US$508.809M in 2021.

The global floating solar panel market is estimated to grow at a CAGR of 27.57% to reach US$2, 797.556 million in 2028 from US$508.809 million in 2021.

During the projected period, the worldwide floating solar panels market is anticipated to benefit from an increased focus on clean fuel power generating energy sources as well as an inadequate supply of land. Regulatory bodies across the world are establishing several clean energy-related goals that will aid in reducing pollution.

Increasing Demand for Renewable Energy

It is anticipated that the technical component of floating solar technology will see a significant increase throughout the predicted time due to the increasing demand for reliable renewable energy sources for power generation. According to the data published by the National Energy Laboratory, the total installed FPV (Floating Photovoltaic) capacity worldwide in 2020 was around 2.6 GW, with the majority of this capacity being in China, the Taiwan region, and Japan (Cox 2021). The fast FPV expansion across Asia has been facilitated by a lack of available land, stringent renewable energy objectives, declining PV prices, and targeted subsidies.

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Source: Research and Markets

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Utility-scale solar generation is set to grow by 75% in just two years, pushed by the anticipated addition of 79 GW of new capacity.

Over the next two years, the United States will experience a remarkable acceleration in the energy transition in the electricity sector, according to new figures released the U.S. Energy Information Administration (EIA).

Utility-scale solar generation is set to grow by 75% in just two years, pushed by the anticipated addition of 79 GW of new capacity. The EIA described the increase as the “major driver” behind its electric sector power forecast, which expects generation from renewables — utility-scale solar, wind and hydro — to be almost twice the amount generated by coal in 2025.

Wind and solar are expected to account for 18.5% of all the electricity generated in the U.S., and hydro is anticipated to add another 6.5%. Wind and utility-scale solar by themselves will generate more power than coal in 2024.

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Source: Solar Builder

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US EIA forecasts new capacity will boost the solar share of total generation to 5.6% in 2024 and 7.0% in 2025, up from 4.0% in 2023.

We expect solar electric generation will be the leading source of growth in the U.S. electric power sector. In our January Short-Term Energy Outlook (STEO), which contains new forecast data through December 2025, we forecast new capacity will boost the solar share of total generation to 5.6% in 2024 and 7.0% in 2025, up from 4.0% in 2023.

The STEO includes two Between the Lines articles that discuss how our forecast for Brent crude oil prices performed in 2023 and a closer look at our Brent price forecast for 2024 and 2025. We expect U.S. crude oil and natural gas production growth to slow, but both continue to reach new records.

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Source: Clean Technica

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California has more solar capacity than any other state. California also generates the most geothermal electricity.

As the U.S. experiences more power outages, states are modernizing aging power grids with more sustainable alternatives. According to the Clean State Energy Alliance, 23 states currently have legislation that mandates cleaner energy. And with these shifts in infrastructure come business opportunities and reduced pollution.

To find where clean electricity is most prevalent – and to identify areas for potential upside – SmartAsset compared the amount of solar, wind, geothermal and nuclear operations as a percentage of a state’s entire electricity production capacity.

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Source: yahoo!finance

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The SEIA and Wood Mackenzie research group said the US solar sector is expected to add a record 33 GW of new generation capacity in 2023.

A new report from the Solar Energy Industries Association (SEIA) and the Wood Mackenzie research group said the U.S. solar sector is expected to add a record 33 GW of new generation capacity in 2023, a 55% increase from 2022.

The groups said that even with growth expected to slow over the next year due to economic and interconnection challenges, solar energy is expected to be the largest source of generating capacity on the U.S. power grid by 2050. The report released Dec. 7 said that government policies supporting solar power are among the reasons for the industry’s rise.

“Solar remains the fastest-growing energy source in the United States, and despite a difficult economic environment, this growth is expected to continue for years to come,” said SEIA president and CEO Abigail Ross Hopper. “To maintain this forecasted growth, we must modernize regulations and reduce bureaucratic roadblocks to make it easier for clean energy companies to invest capital and create jobs.”

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Source: POWER

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