2023 Brings Record-Breaking Increase in US Solar and Battery Storage Capacity.
According to the US Energy Information Administration (EIA), developers are planning to significantly increase the U.S. power grid’s electric-generating capacity in 2023 by adding 54.5 GW of new utility-scale generation. More than half of this new capacity, 54%, will be in the form of solar power, with the rest being made up of battery storage (17%) and other forms of generation.
The growth in utility-scale solar capacity in the U.S. has been constant for the past decade, but the additions of capacity declined by 23% in 2022 due to various pandemic-related challenges and supply chain disruptions. However, developers are planning to install 29.1 GW of solar power in 2023, which, if achieved, would set a new record for the newest utility-scale solar capacity added in a single year, surpassing the previous record of 13.4 GW in 2021.
The states of Texas and California are expected to lead the growth in solar capacity, with 7.7 GW and 4.2 GW respectively, accounting for 41% of the planned new solar capacity. The growth in these states is due to a combination of favorable regulations, financial incentives, and the availability of suitable land for large-scale solar projects.
Battery storage capacity in the U.S. has been growing rapidly in recent years, and this trend is expected to continue in 2023. Developers have plans to add 9.4 GW of battery storage to the existing 8.8 GW of capacity, which would more than double the existing capacity. The majority of the new battery storage capacity, 71%, is expected to be located in California and Texas, which have substantial wind and solar capacities. These batteries are frequently installed with wind and solar projects to store excess electricity generated during peak production, providing a reliable source of energy when it is needed most.
In conclusion, the U.S. power grid is poised for significant growth in 2023, with a focus on renewable energy sources, particularly solar and battery storage. The continued growth of these clean energy sources will play a critical role in reducing the country’s reliance on fossil fuels and mitigating the effects of climate change.