The latest data from the American Clean Power Association (ACP) paints a promising picture for the U.S. clean energy sector. In the first quarter of 2024, the industry saw significant growth, with the combined utility-scale solar, wind, and storage sectors adding 5,585 MW of new capacity. This marked a notable 28% increase compared to the installations in the same period the previous year, signifying a positive trajectory for clean power in the country.

The “Clean Power Quarterly Market Report Q1 2024” released by ACP revealed some remarkable milestones achieved by the industry. Utility-scale solar, in particular, surpassed the 100 GW mark of installed capacity, showcasing the increasing prominence of solar energy in the nation’s power infrastructure. Additionally, the successful initiation of the first offshore wind project in federal waters, which commenced supplying 132 MW of power to the grid, represents a significant step forward in the expansion of clean energy sources.

It is evident from ACP’s report that the domestic clean power pipeline has significantly broadened, with a capacity of nearly 175 GW, predominantly driven by battery storage and solar energy. While energy storage deployments remained consistent compared to the previous year, there was a remarkable 61% year-over-year increase in the pipeline for new storage projects, aggregating to 31.6 GW. The land-based wind market also witnessed a notable surge, with its project pipeline expanding by 37% year-over-year to reach 13.7 GW.

As a result of these advances, the U.S. clean power capacity proudly stands at 269,878 MW, showcasing the robust growth and development within the clean energy sector.

In essence, the findings from ACP’s report signify a resounding success for the U.S. clean energy industry in the first quarter of 2024. The remarkable achievements and the continued momentum point towards a future where clean power sources will play a pivotal role in meeting the nation’s energy needs, while also aligning with environmental sustainability goals.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.