U.S. Power Grid Sees 20.2 GW Capacity Boost In First Half Of 2024, Solar Leads With 12 GW

In the first half of 2024, the U.S. power grid saw a significant increase in generating capacity. Developers and power plant owners added 20.2 gigawatts (GW) of new capacity, which is 3.6 GW more than the capacity added during the same period in 2023. Looking ahead, there are plans to add another 42.6 GW in the second half of the year.

Solar energy continued to lead the way in new capacity additions, accounting for 12 GW or 59% of the total new capacity. Texas and Florida were major contributors, together accounting for 38% of these solar additions. Notable projects that came online included the 690-megawatt (MW) Gemini solar and storage facility in Nevada and the 653-MW Lumina Solar Project in Texas.

Battery storage was the second-largest contributor, making up 4.2 GW or 21% of the new capacity. The majority of new battery storage capacity was concentrated in California, Texas, Arizona, and Nevada, with California alone accounting for 37% of the total. Key projects included the 380-MW battery storage capacity at Gemini and the 300-MW Eleven Mile Solar Center in Arizona.

Wind power added 2.5 GW, representing 12% of the new capacity. Major wind projects included Canyon Wind and Goodnight, both located in Texas, with capacities of 309 MW and 266 MW, respectively.

Nuclear power also saw an increase. The Vogtle nuclear power plant in Georgia began operations of its fourth unit, which has a capacity of 1,114 MW. This makes Vogtle the largest nuclear facility in the U.S. and the only one with four reactors.

On the other hand, the retirement of generating capacity has slowed in 2024. Operators retired 5.1 GW in the first half of the year, compared to 9.2 GW in the same period in 2023. Of the retired capacity, more than half (53%) used natural gas, while 41% used coal. Major retirements included Seminole Electric Cooperative’s Unit 1 in Florida and Homer City Generating Station’s Unit 1 in Pennsylvania, both of which were coal-fired. The Mystic Generating Station in Massachusetts, a large natural gas facility, was also retired.

Looking ahead, developers plan to add 42.6 GW of new capacity in the second half of 2024. Solar is expected to make up nearly 60% of this, with 25 GW planned. Battery storage is expected to add 10.8 GW, and wind power is projected to contribute 4.6 GW. If all planned solar capacity comes online, 2024 will set a new record with 37 GW of solar additions, nearly double the 18.8 GW added last year. Similarly, a record amount of battery storage, 15 GW, could be added this year, with Texas and California accounting for the majority of new storage capacity.

During the second half of 2024, about 2.4 GW of capacity is scheduled to retire, including 0.7 GW of coal and 1.1 GW of natural gas.