More than 50 GW of new solar projected in 2024

More than 50 GW of new solar projected in 2024

The U.S. Energy Information Administration (EIA) forecasts the deployment of 45 GWdc in utility-scale solar projects larger than one megawatt in 2024. This is projected increase to about 53 GWdc in 2025, according to the agency’s Short-Term Energy Outlook (STEO).

Projected figures for 2025 suggest a potential total deployment of 65 GW of solar power.

According to EIA, utility-scale solar is expected to constitute 6% of the total electricity generation in 2024 and 7% in 2025. Small scale solar generation is anticipated to contribute 2% to the total electricity generation in 2024, increasing to 2.3% in 2025. This suggests that solar power could represent 8% of the total electricity used in 2024 and 9.3% in 2025. If the deployment reaches about 65GW in 2025, solar power could account for nearly 11% of all electricity generation in 2026.

With electricity generation set to increase in 2024 by 3%, along with coal falling 9% and gas staying flat, it means that solar is both replacing the decline in coal, as well, covering the growth of 3%.

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