Solar's surge in U.S. electricity generation in 2024

Exciting news for #RenewableEnergy enthusiasts! 🌞💡 According to the latest report by the U.S 🌎. Energy Information Administration (EIA), solar energy is set to contribute over 60% of the new U.S. electricity generation in 2024. This significant increase is part of a broader 3% growth in total electricity generation capacity expected this year, showcasing solar power's pivotal role in driving the energy transition. Despite the dominance of fossil fuels, the shift towards renewable sources like solar, wind, and hydropower is making a noticeable impact, with solar alone projected to provide 41% more electricity compared to last year. As we continue to navigate towards a decarbonized economy, the role of solar energy becomes ever more crucial in shaping a sustainable future. 🌍🔋 #SolarPower #Sustainability #EnergyTransition Read more here: https://lnkd.in/dvmFrA9i

The good news: The energy transition towards renewable sources, particularly solar, is accelerating, with the U.S. Energy Information Administration (EIA) predicting that solar will contribute over 60% of new U.S. electricity generation in 2024. The bad news: Despite this significant growth, the EIA forecasts that natural gas will remain a major electricity source, with its consumption in the power sector expected to stay at record levels. More good news: The EIA also anticipates that solar generation will surpass hydroelectricity for the first time in history by 2025. The not-so-good news: To achieve a decarbonized economy, the U.S. must still address the challenge of its energy sector’s carbon emissions, which are not expected to see a meaningful reduction through 2025. Read More:    https://lnkd.in/gyMKbB64 #solar #solarpower #bess #energystorage #sinovoltaics #innovativeinsider #QualityAssurance #QA

"More than 40% of the world’s electricity came from zero-carbon sources for the first time in 2023; 14% from wind and solar". "Almost 91% of global net power capacity additions came from solar and wind in 2023 versus 6% from fossil fuels". "Renewable energy attracted $313 billion of new investment in the first half of 2024, similar to the same period in the prior year". "Renewable power output rose more than 5% year-on-year, to make up nearly a third of global generation in 2023".

Great macro picture, but the summary is this: * without energy storage EU is facing solar capture sub 50% and plunging, so not sure why invest in solar any more * BESS saves real money - see #germany example below * last but not least - without #investment in the electric #grid, we have lost the #energytransition momentum "If Germany had an additional 2GW of battery energy storage systems (BESS) in June 2024 it would have saved €2.5 million in fuel costs that month alone, the report added... Within the next six years, renewable power will become abundant at certain times in many EU countries, meeting an average of 49% of hourly demand in 2030 compared to 27% in 2023. Renewables will generate more electricity than demand in 4% of hours and more than half of demand in 35% of hours, up more than ten times from the 3% currently... ...Looking beyond 2030, continued grid investment will also be necessary to meet the world’s long-term climate goals, with the IEA report concluding that around 25 million km of electricity grids will need to be “built or modernised” by 2030 to meet the full implementation scenario, with another 55 million km needed by 2035."

🚀 The Growing Need for Energy Storage in Renewables 🔹 China’s Renewable Surge Requires More Storage: With two-thirds of the world’s new wind and solar capacity, China’s grid is under strain. To prevent disruptions, battery storage is projected to expand to 300 GW by 2030, helping stabilize energy flows. ⚡ 🔹 US and Europe Must Prepare: As these regions ramp up renewable energy, they’ll face similar grid challenges. Energy storage is crucial to balance supply and demand, ensuring a reliable and resilient energy system. 🔋 🔹 Zero-Emission Targets Demand Massive Growth: The IEA estimates that 1 TW of battery storage is needed by 2030 and 5 TW by 2050 to meet global zero-emission standards. For context, total global capacity was just 200 GW in 2023. 🌍 📈 Energy storage is rapidly evolving into what The Economist predicts could be a trillion-dollar industry. 💼 #EnergyStorage #BESS #CleanEnergy https://lnkd.in/gM_T3BFR

More than 40% of the world’s electricity came from zero-carbon sources for the first time in 2023; 14% from wind and solar Almost 91% of global net power capacity additions came from solar and wind in 2023 versus 6% from fossil fuels Renewable energy attracted $313 billion of new investment in the first half of 2024, similar to the same period in the prior year Aug 27th 2024 BNEF https://lnkd.in/dUZHVegY

Zero-carbon sources made up over 40% of the electricity the world generated for the first time ever last year, according to new research. Two reports from BloombergNEF show that 14% of this power came from wind and solar, and almost 91% of global power capacity additions came from those sources, versus 6% from fossil fuels. This momentum is set to continue, with renewable energy attracting $313bn of new investment in the first half of 2024. This is a similar amount to the same period in 2023.

IEA calls for stronger solar, wind integration measures: The International Energy Agency's (IEA) latest report warns that failing to support integration at the point of deployment could jeopardize up to 15% of solar and wind projects by 2030. This shortfall would reduce their combined share of the global electricity mix by 5%. #Renewables #Energy #Technology

🔋💡Advancements in energy storage are revolutionizing grid reliability! As renewable energy sources like wind and solar grow, so does the need for long-duration energy storage (LDES). Traditional methods like lithium-ion batteries have seen remarkable growth, particularly in states like California. However, for states heavily reliant on renewables, longer-duration storage options are essential. Projects like Westinghouse's Polar and the Gordon Butte pumped storage hydroelectric project in Montana highlight the potential for storing energy over extended periods, supporting renewable integration and grid reliability. Despite progress, cost reduction and innovation remain crucial for scaling up storage infrastructure effectively. With continued investment and technological advancements, the future of energy storage looks promising. #RenewableEnergy #GridReliability #EnergyStorage 🌱🔌 https://lnkd.in/etTbU9AB