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Released February 16, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--In its latest Preliminary Monthly Electric Generator Inventory, the U.S. Energy Information Administration (EIA) reports that U.S. power plant developers plan to add 62.8 gigawatts (GW) of generation this year. Leading the way is solar energy, with more than 36 GW in planned capacity additions. Solar, battery energy storage and wind lead the way in terms of capacity expected to be added this year, indicative of the transition toward cleaner forms of energy, while planned natural gas-fired capacity hovers at its lowest in 25 years.
Solar
Expected solar power capacity additions in the U.S. come in at 36.4 GW, dwarfing the 18.4 added in 2023, which was itself a record. According to the EIA, more than half of this capacity is bound for three states: Texas (35%), California (10%) and Florida (6%).
Among the largest solar projects expected to come online in Texas this year is Hecate Energy's (Chicago, Illinois) Frye solar facility in Swisher County, which is in the completion process. The plant will generate 514 megawatts (MW) at full capacity. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more details on the project.
Florida is experiencing a surge in solar, led by NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida), which is building several 74.5-MW facilities throughout the state. Examples include the Caloosahatchee Solar Energy Center in Clewiston, a city in southern Florida. The Caloosahatchee facility is being built on a 500-acre site and will feature approximately 250,000 solar panels. Engineering, procurement and construction (EPC) contractor M.A. Mortenson Company (Minneapolis, Minnesota) has been at work on the project since the first half of 2023 and is expected to wind down construction in the coming months. Subscribers to Industrial Info's Power Project Database can click here for more information on the project.
Battery Energy Storage Systems (BESS)
Often accompanying solar energy projects are BESS units that can provide power at times when the sun isn't shining. The EIA reports that developers plan to add a record 14.3 GW in U.S. BESS capacity in 2024, overtaking wind this year for second position. Industrial Info is tracking more than 120 BESS projects that are expected to come online this year. As BESS units often accompany solar generation, a majority of these are bound for the state leading solar development, Texas. Typical examples include the 101-MW BESS installation accompanying National Grid plc's (NYSE:NGG) (London, England) 152-MW Copperhead photovoltaic solar farm in Falls County, Texas. The facility will use Fluence Energy's (Arlington, Virginia) Gridstack lithium-ion battery technology, which will supplement capacity from nearly 420,000 First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) panels. Construction has been underway since 2022, and the project is in the completion process. Subscribers can learn more by viewing the project report.
Wind
Developers report 8.2 GW of wind capacity expected to be added in the U.S. in 2024, significantly less than the 14 GW of additions seen in both 2020 and 2021, although more than last year. The capacity addition includes two offshore wind projects that will contribute more than 900 MW of combined power from off the coasts of Massachusetts and New York.
According to Industrial Info's coverage, Texas also leads in onshore wind additions, although many of the single largest additions are coming from outside the state. After more than a year of construction, TransAlta Corporation's (NYSE:TAC) (Calgary, Alberta) White Rock Windfarm in Caddo County, Oklahoma, is expected to be completed in the coming months. The windfarm consists of two sections. The western section will have 33 turbines rated at 6 MW each and a single 3.45-MW turbine. The eastern section will include 16 6-MW turbines and a single 3.45-MW unit. Together, the eastern and western sections will provide more than 300 MW of power after contractor M.A. Mortenson Company completes construction. Subscribers can learn more by viewing the project report.
Natural Gas
At a reported 2.5 GW in 2024 additions, natural gas is adding the least amount of capacity in 25 years, according to the EIA. Industrial Info is tracking about $5.5 billion worth of natural gas-fired power additions this year, coming from both simple-cycle and combined-cycle installations. In Las Vegas, Nevada, NV Energy (Las Vegas) is adding two General Electric (NYSE:GE) (Boston, Massachusetts) gas-fired turbine-generator sets in a simple-cycle formation. Each unit will provide 220 MW of power generation. EPC contractor Primoris Services Corporation (Dallas, Texas) is expected to complete the units this summer, after about one year of construction activity. Subscribers can click here to learn more.
Nuclear
One significant nuclear addition is expected to take place this year in the form of Plant Vogtle's 1.1-GW Unit 4 in Waynesboro, Georgia, which is expected to come online in the second quarter. While the Biden administration would like to see more emissions-free nuclear capacity added to the U.S. grid, Vogtle units 3 (completed last year) and 4 may not be heralding much of a renaissance as lead developer Southern Company (NYSE:SO) (Atlanta, Georgia) has repeatedly been forced to report the project going significantly over budget and delays to the units' completion dates, similar to other nuclear facilities built in Western Europe.
Southern Company subsidiary Georgia Power (Atlanta) earlier this week reported that Unit 4 had reached initial criticality, a key step showing operators have safely started the nuclear reaction process. Subscribers can learn more by viewing the project report.
The Plant Vogtle units may be some of the last traditional nuclear capacity added in the U.S., as the Biden administration is leaning more with its funding toward small modular reactors (SMRs), which are smaller units capable of generating a few hundred megawatts that come with a much lower price tag, physical footprint and estimated construction time.
Subscribers to Industrial Info's GMI Power Project Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
Solar
Expected solar power capacity additions in the U.S. come in at 36.4 GW, dwarfing the 18.4 added in 2023, which was itself a record. According to the EIA, more than half of this capacity is bound for three states: Texas (35%), California (10%) and Florida (6%).
Among the largest solar projects expected to come online in Texas this year is Hecate Energy's (Chicago, Illinois) Frye solar facility in Swisher County, which is in the completion process. The plant will generate 514 megawatts (MW) at full capacity. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more details on the project.
Florida is experiencing a surge in solar, led by NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida), which is building several 74.5-MW facilities throughout the state. Examples include the Caloosahatchee Solar Energy Center in Clewiston, a city in southern Florida. The Caloosahatchee facility is being built on a 500-acre site and will feature approximately 250,000 solar panels. Engineering, procurement and construction (EPC) contractor M.A. Mortenson Company (Minneapolis, Minnesota) has been at work on the project since the first half of 2023 and is expected to wind down construction in the coming months. Subscribers to Industrial Info's Power Project Database can click here for more information on the project.
Battery Energy Storage Systems (BESS)
Often accompanying solar energy projects are BESS units that can provide power at times when the sun isn't shining. The EIA reports that developers plan to add a record 14.3 GW in U.S. BESS capacity in 2024, overtaking wind this year for second position. Industrial Info is tracking more than 120 BESS projects that are expected to come online this year. As BESS units often accompany solar generation, a majority of these are bound for the state leading solar development, Texas. Typical examples include the 101-MW BESS installation accompanying National Grid plc's (NYSE:NGG) (London, England) 152-MW Copperhead photovoltaic solar farm in Falls County, Texas. The facility will use Fluence Energy's (Arlington, Virginia) Gridstack lithium-ion battery technology, which will supplement capacity from nearly 420,000 First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) panels. Construction has been underway since 2022, and the project is in the completion process. Subscribers can learn more by viewing the project report.
Wind
Developers report 8.2 GW of wind capacity expected to be added in the U.S. in 2024, significantly less than the 14 GW of additions seen in both 2020 and 2021, although more than last year. The capacity addition includes two offshore wind projects that will contribute more than 900 MW of combined power from off the coasts of Massachusetts and New York.
According to Industrial Info's coverage, Texas also leads in onshore wind additions, although many of the single largest additions are coming from outside the state. After more than a year of construction, TransAlta Corporation's (NYSE:TAC) (Calgary, Alberta) White Rock Windfarm in Caddo County, Oklahoma, is expected to be completed in the coming months. The windfarm consists of two sections. The western section will have 33 turbines rated at 6 MW each and a single 3.45-MW turbine. The eastern section will include 16 6-MW turbines and a single 3.45-MW unit. Together, the eastern and western sections will provide more than 300 MW of power after contractor M.A. Mortenson Company completes construction. Subscribers can learn more by viewing the project report.
Natural Gas
At a reported 2.5 GW in 2024 additions, natural gas is adding the least amount of capacity in 25 years, according to the EIA. Industrial Info is tracking about $5.5 billion worth of natural gas-fired power additions this year, coming from both simple-cycle and combined-cycle installations. In Las Vegas, Nevada, NV Energy (Las Vegas) is adding two General Electric (NYSE:GE) (Boston, Massachusetts) gas-fired turbine-generator sets in a simple-cycle formation. Each unit will provide 220 MW of power generation. EPC contractor Primoris Services Corporation (Dallas, Texas) is expected to complete the units this summer, after about one year of construction activity. Subscribers can click here to learn more.
Nuclear
One significant nuclear addition is expected to take place this year in the form of Plant Vogtle's 1.1-GW Unit 4 in Waynesboro, Georgia, which is expected to come online in the second quarter. While the Biden administration would like to see more emissions-free nuclear capacity added to the U.S. grid, Vogtle units 3 (completed last year) and 4 may not be heralding much of a renaissance as lead developer Southern Company (NYSE:SO) (Atlanta, Georgia) has repeatedly been forced to report the project going significantly over budget and delays to the units' completion dates, similar to other nuclear facilities built in Western Europe.
Southern Company subsidiary Georgia Power (Atlanta) earlier this week reported that Unit 4 had reached initial criticality, a key step showing operators have safely started the nuclear reaction process. Subscribers can learn more by viewing the project report.
The Plant Vogtle units may be some of the last traditional nuclear capacity added in the U.S., as the Biden administration is leaning more with its funding toward small modular reactors (SMRs), which are smaller units capable of generating a few hundred megawatts that come with a much lower price tag, physical footprint and estimated construction time.
Subscribers to Industrial Info's GMI Power Project Database can click here to view reports for all of the projects discussed in this article and click here for the related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
