Key Trends and Insights
A recent review by the SUN DAY Campaign of data from the U.S. Energy Information Administration (EIA) reveals that renewables are making significant strides in the U.S. energy landscape. Here’s a breakdown of the key trends and developments:
1. Solar Power’s Rapid Growth
- Solar Expansion: The latest “Electric Power Monthly” report from EIA, covering data through March 31, 2024, shows that solar power (both utility-scale and small-scale) increased by 25.7% in the first three months of 2024 compared to the same period in 2023.
- Small-Scale Solar: This segment alone grew by 20.4%.
- Utility-Scale Solar: Solar thermal and photovoltaic systems expanded by 28.4%.
- Contribution to Total Generation: Solar energy accounted for 5.3% of the U.S. electrical generation in the first quarter and rose to 6.9% in March alone.
- Small-Scale Solar’s Share: Nearly a third (31.5%) of all solar generation came from small-scale systems, providing 1.7% of the U.S. electricity supply.
2. Recovery in Hydropower and Wind Energy
- Hydropower: After significant declines in 2023, hydropower showed recovery with a 4.3% increase in the first quarter compared to the same period last year. March alone saw a 13.6% rise year-over-year.
- Wind Energy: Although wind energy generation was 2.8% less in the first quarter compared to last year, March 2024 saw a 2.9% increase compared to March 2023.
3. Overall Renewable Energy Growth
- Combined Renewables: The combination of solar, wind, hydropower, biomass, and geothermal grew by 3.7% in the first quarter of 2024, providing 24.7% of the total generation. This share rose to 29.2% in March, up from 26.3% a year earlier.
4. Solar and Wind Surpassing Coal and Nuclear
- Solar vs. Hydropower: In March, solar generation (6.9%) nearly matched hydropower (also 6.9%) and is expected to surpass it soon.
- Solar and Wind vs. Coal: During the first quarter, the combined output of solar and wind (17.1%) was higher than coal (15.2%). In March, this difference was even more pronounced (20.8% for solar and wind vs. 11.6% for coal).
- Renewables vs. Nuclear: Renewables out-produced nuclear power by almost a third (30.3%) in the first quarter. In March, solar and wind alone generated more electricity (20.8%) than nuclear power (19.2%).
5. Renewables’ Rising Share
- Second Largest Source: Renewables solidified their position as the second-largest source of electrical generation in the U.S., only behind natural gas, which had a 40.5% share in the first quarter but dropped to 39.4% in March.
Looking Ahead
Ken Bossong, the executive director of the SUN DAY Campaign, highlighted these milestones, noting, “More records were broken in March as wind plus solar produced more electricity than either nuclear power or coal, and solar was on the verge of overtaking hydropower. The mix of renewables provided almost 30% of U.S. electrical generation in March and seems likely to surpass that level in the coming months.”
Conclusion
The rapid growth of solar and wind energy, along with a resurgence in hydropower, marks a significant shift in the U.S. energy mix. As renewables continue to break records and surpass traditional energy sources like coal and nuclear, the future looks bright for a cleaner and more sustainable energy landscape.
