EIA Forecasts Solar Capacity to Double in 2024, Dominating New Energy Additions Across the U.S.

The U.S. Energy Information Administration (EIA) predicts that new solar power generation capacity will nearly double the amount built in 2023, with developers expecting to add 36.4 GW of new solar capacity in 2024, a 55% increase from the previous year. The EIA said that solar power accounts for 58% of all new capacity additions expected for the U.K. this year. 35% of these additions are expected in Texas, followed by California and Florida, and are forecast to add most of the nation’s new electricity output over the next five years. The agency expects 470 new solar projects to come online this year, along with 220 energy storage installations. Other major electricity generation projects expected to enter commercial operation include the Vogtle nuclear plant in Georgia, the first new nuclear power plant built in the US.