Full Title: Clean Power Quarterly Market Report Q1 2024
Author(s): American Clean Power
Publisher(s): American Clean Power
Publication Date: August 29, 2024
Full Text: Download Resource
Description (excerpt):
U.S. installed 5.6 GW of clean power in Q1
• Developers brought 5,585 MW of utility-scale solar, wind, and energy storage projects online in the first quarter of 2024, up 28% from the 4,368 MW installed in Q1 2023.
• As of March 31, 2024, the U.S. had installed 269,878 MW of clean power capacity, enough to power more than 68 million homes.
Utility-scale solar crossed the 100 GW mark in Q1
• With 4,557 MW of new solar installed in the first quarter, the U.S. now has 100,547 MW of utility-scale solar deployed.
• Solar accounted for more than 80% of new clean power capacity added during the quarter.
Clean power buying soars more than 50% y-o-y
• Clean power buyers announced 7,773 MW of new Power Purchase Agreements (PPAs) in Q1, up 52% from the same quarter in 2023.
• Much of the surge came from utilities, as higher load growth expectations increasingly factor into future resource planning.
Offshore wind sees record quarter for deployments
• Ørsted and Eversource brought South Fork Wind project online in March 2024, adding 132 MW of new offshore wind capacity in Q1.