Solar and wind to lead growth of U.S. power generation for the next two years

New installations of generating capacity support the increase in our renewable generation forecast. Wind and solar developers often bring their projects on line at the end of the calendar year. So, the new capacity tends to affect generation growth trends for the following year. Solar is the fastest-growing renewable source because of the larger capacity additions and favorable tax credits policies. Planned solar projects increase solar capacity operated by the electric power sector 38% from 95 gigawatts (GW) at the end of 2023 to 131 GW by the end of 2024. We expect wind capacity to stay relatively flat at 156 GW by the end of 2024, compared with 149 GW in December 2023. Read more