YTD U.S. Generation Capacity Additions

Highlights:

• Through May 2024, the U.S. has added 15,115 MW of generation capacity (inclusive of battery storage), up 50% versus the same period in 2023

• Full-year operation and planned capacity for 2024 is 61,973 MW, higher by 65% versus last year 

• Utility-scale solar represents 60% of expected 2024 capacity additions, with an 88% year-over-year increase

• Battery storage represents 23% of forecasted 2024 capacity additions and are forecasted to increase 121%

• The greening of the grid is happening in real-time

The changing mix of generation asset additions to the U.S. power grid can be seen visually.

83% of remaining expected 2024 capacity additions are solar or battery storage.

The momentum in solar capacity additions is considerable.

Wind capacity additions have slowed in recent years with 2024 at approximately half of 2020 levels

While battery storage is not generation capacity, significant capacity additions are help to shave generation demand during peaking hours.

Through May, net natural gas generation capacity has slipped slightly (more retirements than additions), with total capacity additions for the full year expected to be the lowest over the last five years.