In the span of just one decade, renewable energy has transformed from an alternative source into a dominant force within the United States' energy mix. According to the latest findings from Environment America‘s “Renewables on the Rise” annual report, solar energy has experienced a meteoric rise, generating a staggering 12 times more electricity than it did in 2013.
As of 2022, the United States had harnessed enough solar power to supply 19 million homes with clean energy. Impressively, the cumulative solar capacity installation surged to over 153 gigawatts (GW) in the first half of 2023, with no signs of slowing down. Projections indicate that 2023 will witness the installation of over 32 GW of additional solar capacity, marking a remarkable 52% growth over 2022 figures.
Solar energy is not merely a small player in the energy landscape; it represents a significant portion of all new electricity-generating capacity added in the first quarter of 2023. Wood Mackenzie reports that solar accounted for a substantial 54% of these new capacity additions. The firm further anticipates that cumulative solar installations will more than double by 2028, reaching an impressive 375 GW.
The Federal Energy Regulatory Commission (FERC) shares this optimistic outlook, forecasting continued robust growth in the solar sector for years to come. FERC predicts that over 83 GW of “high probability” solar capacity will be added by August 2026, dwarfing the 4 GW of natural gas additions expected during the same period.
Notably, FERC's forecast may even be conservative, as there is a staggering 214 GW of solar additions currently in the three-year project pipeline.
While solar power takes center stage, other renewables are also experiencing significant growth. Environment America reports that in 2022, nearly 17% of electricity in the United States was sourced from solar, wind, and geothermal sources, a remarkable increase from just over 5% in 2013. Furthermore, 14 states now produce over 30% of their electricity from these emissions-free sources, compared to just two states in 2013.
Wind energy has also made substantial strides, growing 2.6 times over the past decade and generating enough electricity to power the equivalent of 41 million typical U.S. homes.
The electric vehicle (EV) revolution is gathering momentum as well, with nearly one million plug-in electric vehicles sold in 2022—a tenfold increase compared to 2013. The infrastructure to support EVs has also expanded significantly, with 151,000 new electric vehicle chargers installed in 2022, representing an impressive 18-fold increase.
To ensure the reliability of intermittent renewable energy sources, energy storage solutions have become pivotal. By the end of 2022, the United States boasted 8.9 GW of battery energy storage, a staggering 60-fold increase from 2013 levels. The year-over-year growth in energy storage was equally astonishing, with an 85% increase from 2021 to 2022.
In tandem with the renewable energy expansion, efforts to enhance energy efficiency are also gaining momentum. Environment America highlights that efficiency improvements implemented in 2021 are expected to save a remarkable 300 terawatt-hours of power over the lifetimes of these technologies. These efficiency gains alone equate to the power demand of 28 million homes annually.
“This incredible growth will be key to achieving our vision of a clean energy future—one in which we can all live greener, healthier lives in a world powered solely by clean, renewable energy,” remarked Environment America.
In a parallel development, a report jointly produced by Rhodium Group and the Massachusetts Institute of Technology (MIT) reveals that total investments in clean energy, clean transportation, building electrification, and carbon management reached a staggering $213 billion in the past year (from July 1, 2022, to June 30, 2023). This figure represents an impressive 37% increase compared to investments in 2021/2022, highlighting the relentless growth in clean energy investment year after year.
The journey towards a sustainable and renewable energy future in the United States has undeniably entered a transformative phase, with solar power leading the charge and a comprehensive shift towards clean energy solutions becoming increasingly evident.
