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Solar Energy Accounts For 61% Of US’ Q3 2024 Clean Energy Utility Installations

Source：taiyangnews

Utility-scale solar pipeline continues to swell, according to the ACP report that counts this segment to hold close to 91 GW capacity under construction and in advanced development. (Photo Credit: American Clean Power Association)

Key Takeaways
The US deployed 10.2 GW of new utility scale clean energy capacity during Q3 2024, says ACP 

This includes 3 GW of new utility-scale solar additions whose YTD capacity has now reached 20 GW  

Significant growth was also seen in the energy storage segment, along with growth in wind energy pipeline  

ACP pegs US’ YTD clean energy installations at 29.6 GW and expects the country to end the year with record clean power capacity 

The American Clean Power Association (ACP) says the US installed 10.2 GW of utility scale clean energy capacity between July and September 2024, expanding the country’s year-to-date installations to a total of 29.6 GW. The latter represents an 86% year-on-year (YoY) increase.  

“This record-setting quarter positions the industry to achieve a historic year in 2024, underscoring the strength of American clean power,” according to the association that says the US now has 294 GW of clean power capacity online. This is enough to power 72 million American homes.  

Solar energy additions during Q3 2024 totaled 6.25 GW accounting for 61% of the clean power installations, followed by 3.54 GW or 35% of storage, and 396 MW of wind. The respective cumulative capacity of these technologies at the end of the quarter stood at 115.56 GW, 25.13 GW and 153 GW.  

For solar PV, the quarterly installations during Q3 rose by 97% YoY, including 39% of utility-scale solar capacity energized in Texas. ACP points out that the rise of utility-scale solar in the US Southeast led new states to join the list of top installers as Louisiana, Arkansas and Mississippi made it to the top 10 list for quarterly clean energy installations for the 1st time ever.  

Solar’s growth includes 3 GW of new utility-scale solar capacity installations during the reporting quarter. Having installed around 20 GW YTD, this segment is likely to break last year’s record high of 21.3 GW. However, Berkeley Lab pegged 2023 utility-scale installations in the country at 23.9 GW DC/18.5 MW AC (see US Installed 18.5 GW AC Utility-Scale Solar PV Capacity In 2023).  

Utility-scale PV now has 90.94 GW in the pipeline, comprising 41.63 GW under construction and 49.32 GW in advanced development.  

At the end of the reporting quarter, ACP’s Clean Power Quarterly Market Report Q3 2024 counts the country’s clean power project pipeline at over 170.1 GW, representing an 18% YoY increase, thanks mainly to the steady growth of battery storage and solar. Over the last 3 years, the pipeline of both these technologies has expanded by 286% and 53%, respectively.     

Solar was the technology of choice for power purchase agreements (PPA). In Q3, out of 6.84 GW of PPAs executed (66% YoY jump), 5.42 GW belonged to solar, 735 MW to battery storage and 692 MW to land-based wind.  

“The record pace of clean power installations is delivering not only for the power grid but for the U.S. economy,” said ACP’s SVP of Markets and Policy Analysis, John Hensley. “The impacts of the industry’s investments are vast, keeping America competitive on the global economic stage and enhancing our energy and national security.” 

The full ACP report is available exclusively to ACP members only; however, a free public version can be downloaded from its website.  

ACP had earlier said that it projects the country to exit 2024 with 32 GW AC solar PV capacity as developers rush to install modules imported during the anti-circumvention tariff moratorium for which the deadline of December 2024 (see ACP Projects Over 32 GW AC New US Solar Installations In 2024). 

Recently, the US Department of Commerce recommended imposing antidumping duties in the range of 21.31% to 271.28% on imported cells and modules from Cambodia, Malaysia, Thailand, and Vietnam (see US Issues Solar Import Tariff Round 2 For Southeast Asian Nations).