the US Grid Is Adding Batteries at a Much Faster Rate Than Natural Gas
In early 2024, the U.S. energy grid added 20 GW of renewable capacity, primarily solar, with significant battery growth. By year-end, 96% of new capacity is projected to be carbon-free.
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In the first half of 2024, the U.S. energy grid saw a significant increase in renewable energy capacity, with batteries being added at ten times the rate of natural gas. According to the U.S. Energy Information Agency (EIA), approximately 20 GW of new capacity was installed, with solar power contributing 60% of this total. Texas and Florida were the leading states for solar additions, while battery capacity grew by 4.2 GW, primarily in Texas and California. The EIA projects that by the end of 2024, 96% of new capacity will be carbon-free, with solar expected to account for 37 GW and batteries for 15 GW of the total 60 GW anticipated. Wind power additions were slower, with only 2.5 GW added in the same period. The trend indicates a gradual shift away from fossil fuels, as 5.1 GW of fossil fuel capacity was retired in the first half of 2024, including significant coal and natural gas reductions. Despite a rise in electricity demand, the overall growth in renewables suggests a positive outlook for the transition to a cleaner energy grid.
- U.S. grid added batteries at ten times the rate of natural gas in early 2024.
- Solar power accounted for 60% of the 20 GW of new capacity added.
- By the end of 2024, 96% of new capacity is expected to be carbon-free.
- Significant retirements of fossil fuel capacity occurred, including coal and natural gas.
- The growth in renewables is expected to continue despite rising electricity demand.
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