Analysts expect more than 50 GW of new US solar in 2024

The US Energy Information Administration (EIA) says that about 45 GW of solar projects above 1 MW (AC) in size will be installed in 2024, while Wood Mackenzie estimates 8 GW of small-scale solar.

The EIA forecasts the deployment of 45 GW (DC) of utility-scale solar projects larger than 1 MW in 2024. This is projected increase to about 53 GW in 2025, said the agency.


Image: EIA

Adding Wood Mackenzie Power and Renewables conservative projections of 6 GW in residential solar and 2 GW in commercial projects, the total solar capacity expected for 2024 is 53.5 GW.

The projected figures for 2025 suggest a potential total of 65 GW of deployed solar capacity.

The EIA also said that utility-scale solar is expected to account for 6% of total electricity generation in 2024 and 7% in 2025. This is set against a backdrop in which overall electricity generation is predicted to grow by 3% in 2024 and remain constant in 2025.


Image: EIA

Small-scale solar generation is expected to account for 2% to total electricity generation in 2024, increasing to 2.3% in 2025. This suggests that solar power could represent 8% of the total electricity used in 2024 and 9.3% in 2025. If deployment reaches about 65 GW in 2025, solar power could account for nearly 11% of all electricity generation in 2026.


Image: EIA

source:pv magazine