Solar Power Surges 25.7% in Q1 2024, Outpacing Coal and Driving Renewable Energy Growth in the U.S.

The US Energy Information Administration (EIA) has reported that solar has continued its decade-long growth as the fastest growing source of electricity in the country. The EIA’s latest monthly “Electric Power Monthly” report also revealed that utility-scale and small-scale (e.g., rooftop) solar increased by 25.7% in the first quarter of 2024 compared to the same period a year earlier. Small-scale solar grew by 20.4% while utility-Scale solar thermal and photovoltaic expanded by 28.4%. Solar was 5.3% of total US electrical generation in Q1, and its share rose to 6.9% in March alone. Despite significant declines in 2023, both hydropower and wind showed signs of recovery. The combined shares of electrical generation provided by solar and wind surpassed that of coal (15.2%) during the first Q1 and nearly doubled coal’s share in March.