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The United States Energy Information Administration (“EIA”) issued a March 7th report titled:
Solar Power and Batteries Account for 60% of Planned New U.S. Electric Generation Capacity (“Report”)
The EIA Report states that 60% of the generating capacity added to the United States power grid from 2022 to 2023 will consist of solar power and battery storage projects.
The calculations are based on projections that power plant developers and operators will add 85 gigawatts generating capacity during the previously referenced time period. Fifty-one gigawatts will include solar power and battery storage projects.
The data is derived from EIA’s Preliminary Monthly Electric Generator Inventory.
EIA believes that the increase in both battery storage and renewable capacity will be due at least in part to:
- Tax credits (solar investment tax credit)
- Falling technology costs
The three states projected to have the largest share of planned solar and battery storage capacity within the next three years include:
- Texas – 23%
- California – 21%
- New York – 7%
Additional detail for both solar capacity and battery storage can be found in the Report.
A copy of the Report can be downloaded here.
