Texas Leads U.S. Solar-Power Kickoffs in First-Quarter 2024
Attachment: US solar capex 1Q24
December 28, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--The declining costs of building and operating solar farms are spurring a swath of solar-energy developments across the U.S., where utility-scale capacity increased from 61 gigawatts (GW) in 2021 to 71 GW in 2022, according to the U.S. Energy Information Administration (EIA); the Solar Energy Industries Association (SEIA) and Wood Mackenzie estimate the U.S. could see another 32 GW installed by the end of 2023. Industrial Info is tracking nearly $5 billion worth of U.S. solar-energy projects that have a high likelihood (81% or more) of beginning construction as planned in the first quarter of 2024. More than $2 billion of the total is attributed to projects in Texas.
Earlier this year, Texas dethroned California as the leading U.S. state for utility-scale solar installations, which supply energy to a power grid instead of an individual location. Indeed, the single highest-valued solar project set to kick off in the coming quarter is to be found in the Texas Panhandle, a sunny terrain that boasts clear skies and short winters.
Companies featured: Blue Planet Funding LLC, Innovative Solar Systems LLC, National Grid plc (NYSE:NGG), Birch Infrastructure and Ranger Power.
