BAKU, Azerbaijan, April 10. The US electric power sector saw a significant increase in solar capacity, adding 19 GW in 2023, which marks a 27-percent jump, Trend reports.
The US Energy Information Administration (EIA) expects this trend to continue with the addition of 37 GW in 2024 and another 32 GW in 2025. With these new solar installations, solar power is projected to account for 6 percent of total US electricity generation in 2024 and 7 percent in 2025, up from 4 percent in 2023.
This surge in solar generation is expected to slow down the growth of natural gas-fired power plants, despite the forecast of relatively low natural gas prices, the EIA noted.
The share of total US electricity generation from natural gas-fired plants is expected to remain steady at 42 percent in 2024, similar to 2023, before dropping slightly to 41 percent in 2025. Additionally, the absence of new combined-cycle gas turbine plants in 2024 will contribute to the smaller portion of electricity generated from natural gas.
At the same time, according to the agency's forecast, low natural gas prices will also continue to reduce coal-fired generation, with the forecasted share of US coal generation dropping to 15 percent in 2024 and 14 percent in 2025, down from 17 percent in 2023.