2024: A Year of Remarkable Progress in Clean Energy
As we approach the end of 2024, it is evident that this year has been a significant one for clean energy advancements in the power sector. From the United States to global markets, the progress made in clean energy technologies, projects, and investments has been truly remarkable. Letâs delve into some of the key highlights from the year.
US Clean Energy Milestones
Solar Power
- In 2024, the US witnessed a surge in solar installations, with Texas, Florida, and California leading the way. Large-scale solar projects saw significant growth, with projections indicating that 2024 might surpass the record set in 2023. Additionally, commercial solar installations increased by 13%, while community solar projects saw a 10% rise.
- As a result of these new installations, solar generation in the US experienced a 27% increase in 2024 compared to 2023, contributing to 7% of the countryâs total electricity generation.
Wind Power
- Despite a decrease in new wind turbine installations, wind power generation continued to set records across different regions in the US. Wind power supplied 7% more electricity in 2024 than in 2023, accounting for almost 11% of the nationâs total electricity.
- Offshore wind projects also made significant strides in 2024, with the first commercial-scale project coming online off the coast of New York. Additional projects under construction and in development are poised to further expand offshore wind capacity in the US.
Renewable Energy
- In 2024, renewable energy sources collectively provided 24% of total electricity generation in the US, with solar and wind surpassing coal in electricity generation for the first time.
Energy Storage
- Energy storage capacity in the US saw exponential growth in 2024, with a 20% share of new electrical capacity installations. Battery capacity reached 23.6 gigawatts by October 2024, marking a significant increase from previous years.
Foundational Progress
Policy Developments
- States like Massachusetts and California implemented new clean energy laws and programs to accelerate the transition to renewable sources. Federal policies, such as the Inflation Reduction Act, provided tax incentives for renewable energy projects and households.
Transmission and Grid Enhancements
- Investments in transmission infrastructure and grid modernization initiatives were crucial in unlocking the full potential of renewable energy in the US. Agreements between regional grid operators and governance reforms aimed to improve grid reliability and efficiency.
Manufacturing Expansion
- The US saw a significant increase in manufacturing capacity for solar panels and batteries in 2024, enabling the production of five times more solar module capacity than in previous years. This expansion in manufacturing aligns with the growing demand for clean energy technologies.
Global Momentum
- Internationally, countries like the UK, Spain, and others experienced substantial growth in renewable energy generation, surpassing previous records. Global investments in renewables and energy efficiency exceeded fossil fuel investments, signaling a shift towards cleaner energy sources.
Looking Towards the Future
As we anticipate the transition to 2025, it is evident that the momentum in clean energy will continue to drive innovation and sustainability in the power sector. The advancements made in 2024 set a solid foundation for future growth and transformation towards a cleaner and more resilient energy system.
