(DTCK) The US Energy Information Administration (EIA) has stated that the solar energy industry will lead the ...
(DTCK) The US Energy Information Administration (EIA) has stated that the solar energy industry will lead the expansion of electricity production this year.
According to a report by the EIA released on Thursday (February 15th), large-scale solar energy projects will account for 58% of the US's additional capacity in 2024, boosting electricity output nationwide.
It is expected that 36.4 gigawatts (GW) of new solar energy will be added to the grid this year – this is a record-breaking addition and nearly double the 18.4 GW installed capacity of last year. More than half of the new solar energy capacity will be added in the states of Texas, California, and Florida.
The Nevada state's Gemini solar energy project is also expected to make a significant contribution in 2024, as it is predicted to be the largest solar energy facility in the US.
According to the report, loosening trade restrictions and supply chain constraints are driving factors for the development of solar energy in the US.
Efforts to expand the US solar energy industry have long been underway, supported by government stimulus initiatives such as the Inflation Reduction Act (IRA). Tariffs and barriers previously applied to Chinese exports to protect the US market have been relaxed to allow domestic manufacturers to expand their facilities.
Reuters reported that solar energy prices have decreased in the US due to cheap imports from Asian manufacturers, with export volumes doubling in August. This is a trend complicating the domestic construction process of the industry, previously raising concerns that new plants might not be economically viable.
Electricity generation capacity will also receive support from the addition of new battery storage in 2024, doubling the current capacity of 15.5 GW.
Meanwhile, developers and owners of power plants are seeking to add an additional 62.8 GW of capacity, representing a 55% increase over 2023. This is the highest level since 2003 and evidence of the industry's increasingly active operations.
Unlike solar energy, the addition of wind energy capacity will slow down compared to the record levels seen in 2020 and 2021.
Via Tin nhanh chung khoan