2023 Electric-Generating Capacity: U.S. Energy Information Administration Predicts More Than 50 Percent of New Facilities Will Be Solar

Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.

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The United Stated Energy Information Administration (“EIA”) published a February 6th report titled:

More Than Half of New U.S. Electric-Generating Capacity in 2023 Will Be Solar (“Report”)

The Report projects that of the 54.5 gigawatts (“GW”) that developers plan to add of new utility-scale electric-generating capacity in the United States in 2023, around 54 percent will be solar powered.

This projection is based on the EIA document:

Preliminary Monthly Electric Generator Inventory, December 2022

The Report’s comments regarding the different energy sources that will be utilized for new utility-scale electric-generating capacity in the U.S. in 2023 include:

  • Solar
    • Utility-scale solar capacity declined by 23 percent in 2022 compared with 2021 (due to supply chain disruptions and pandemic-related challenges)
    • Some of the delayed 2022 projects will begin operating in 2023
    • Developers are projected to install 29.1 GW of solar power in the United States in 2023
    • The greatest new solar capacity will be found in the State of Texas (7.7 GW) and California (4.2 GW)
  • Battery Storage
    • The U.S. battery capacity is projected to more than double in 2023
    • Developers are projected to add 9.4 GW of battery storage to the existing 8.8 GW of battery storage capacity
    • 71 percent of the additional battery storage capacity will be in California and Texas
  • Natural Gas
    • Developers are projected to build 7.5 GW of new natural-gas fired capacity in 2023
    • 83 percent of the added capacity will be from combined-cycle plants
  • Wind
    • Developers are projected to add 6.0 GW of utility-scale wind capacity in 2023
    • Annual U.S. wind capacity additions have begun to slow
    • Record additions of more than 14 GW were added in both 2020 and 2021
    • The most wind capacity will be added in Texas in 2023 at 2.0 GW
    • Offshore capacity is expected to come online with a 130.0 MW offshore windfarm in New York
  • Nuclear
  • Two new nuclear reactors at the Vogtle nuclear power plant in Georgia are scheduled to come online in 2023
  • Vogtle reactors will provide a combined 2.2 GW of capacity and are the first new nuclear plants built in the United States in more than 30 years

A copy of the Report can be downloaded here.

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Mitchell, Williams, Selig, Gates & Woodyard, P.L.L.C.
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