Of the newly added renewables, photo voltaic (4,557MW) accounted for 81.6% in Q1, adopted by onshore wind (449MW), BESS (447MW) and offshore wind initiatives (132MW). Solar additions in Q1 had been up 83% in comparison with Q1 2023, however down 63% quarter-on-quarter.
The largest venture to return on-line throughout Q1 was the 828MWp/640MWac Lumina venture in Texas, developed by US renewables firm Intersect Power.
Overall, the US could have 269.9GW of renewable capability on the finish of Q1 2024. Wind accounted for 56.1% of whole capability (151.3GW), whereas the photo voltaic sector (11.5GW) made up 37.3%. BESS accounts for under 6.6% (17.8GW/47,543MWh) of renewables’ working capability.
A rising renewables pipeline
In Q1 2024, the renewables pipeline within the US elevated to 174GW, up from 171GW in This autumn 2023. On a year-over-year foundation, the pipeline is now 26% bigger than in Q1 2023 (139GW). ACP stated the enlargement of the pipeline could be attributed to BESS and photo voltaic, which have grown at a mean fee of 11% and 4% per quarter, respectively, since Q2 2022.
The Texas pipeline is 28.3GW, the very best of all US states, adopted by California (17.7GW), New York (14.3GW), Arizona (8.7GW) and Virginia (7.9GW). ACP stated Kentucky boasts solely 81MW of working renewables capability, but it surely has greater than 2.5GW of initiatives in its pipeline.
By the top of Q1 2024, the US’ utility-scale photo voltaic pipeline reached 94.5GW, up from about 81.5GW in Q1 2023. Solar capability below building elevated by 14GW year-over-year, whereas superior growth The pipeline decreased to solely 1GW. Until the top of Q1 2024, 72.1GW of renewables had been constructed, consisting of 553 initiatives in 45 states.
Geographically, Texas and California are the highest two states with probably the most initiatives below building, with a complete capability of 18.9GW and eight.6GW, respectively. These two states are adopted by New Mexico (5.2GW), Wyoming (5.1GW) and Arizona (4.7GW).
Regarding initiatives in superior levels of growth by the top of Q1 2024, utility-scale photo voltaic accounts for 50% of the superior growth pipeline, adopted by onshore wind (22%), battery storage (17 %) and coastal wind ( 11%).
Over 6GW of PPAs
In Q1 2024, 6.05GW of energy buy agreements (PPAs) had been introduced, up 103% year-on-year. A complete of 905MW of BESS PPA was introduced in the identical quarter as nicely, which is up 201% year-on-year.
The ACP stated the numerous improve in PPAs for photo voltaic and BESS could be partially attributed to variations within the worth of PPAs between applied sciences. Since 2019, the variety of PPA bulletins for photo voltaic has supported a dramatic improve in photo voltaic deployments, leading to a record-breaking 21.1GW of photo voltaic added to the grid by 2023.
