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Released October 03, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Additions of solar-generation capacity outpaced other resources in the U.S. Power Industry in 2023, according to the U.S. Energy Information Administration (EIA), which expects the trend to continue through the end of 2024. This growth has been rapid: A total of 107.4 gigawatts (GW) of solar capacity was operating in the Lower 48 states in August 2024, compared with 81.9 GW in August 2023, according to the EIA. Industrial Info is tracking more than $21 billion worth of solar-energy projects set to begin construction across the U.S. in the current quarter, more than 85% of which are grassroot projects.
Click on the image at right for a graph detailing the top 10 U.S. states for solar-generation projects set to begin construction through December.
Arizona leads all other U.S. states in fourth-quarter solar-generation kickoffs, fueled by two high-value projects from a pair of leading players in the market: Canadian Solar Incorporated's (NASDAQ:CSIQ) (Guelph, Ontario) $380 million Papago Solar Plant in Tonopah, which is expected to generate 300 megawatts (MW) from about 1.4 million photovoltaic (PV) panels, and Invenergy LLC's (Chicago, Illinois) $320 million Hashknife Solar Plant in Joseph City, which is expected to generate 275 MW from PV panels provided by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona).
Newer players also are finding a foothold in Arizona. EVelution Energy LLC (Yuma, Arizona), which was founded in 2021 to provide carbon-neutral materials to the electric vehicle (EV) battery market, is planning to begin construction on a $50 million solar plant in Wellton to power its cobalt-processing plant, which also is under construction. The power facility will comprise a 28.4-MW solar farm and a 24-MW battery energy-storage system (BESS), which will fuel the production of 7,000 tons per year of carbon-neutral, battery-grade cobalt and 33,000 tons per year of cobalt sulphate.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more from detailed reports on the Tonopah, Joseph City and Wellton projects.
BESS projects accompany many of the solar facilities that are slated to kick off across the U.S. in the fourth quarter, including a pair from two other industry leaders: Vistra Energy Corporation's (NYSE:VST) (Irving, Texas) solar farm in Kincaid, Illinois, and Enbridge Incorporated's (NYSE:ENB) (Calgary, Alberta) solar farm in Putnam, Texas. The 60-MW Kincaid project includes an 8-MW BESS, while the 425-MW Putnam project includes a 131-MW BESS. Subscribers can read detailed reports for the Kincaid and Putnam projects.
"Looking broadly across the markets we serve, the interconnection queues are largely filled with wind, solar and battery resources for a number of reasons, including tax incentives, state policies and the preferences of large customers," a Vistra executive said in a recent quarterly earnings-related conference call. Another executive later added: "We remain committed to our opportunistic approach to our solar and energy storage growth strategy and continue to target levered returns of mid-teens or higher for these projects."
Even smaller-scale solar projects can feature BESS units: Hollywood Burbank Airport in Burbank, California, plans to install 2.8 MW of rooftop solar units to help power its facility, to be supported by a BESS unit of undetermined capacity. Similarly, Nexamp Incorporated (New York, New York) is developing the Carrowmoor Solar Project in Ithaca, New York, a 5-MW solar array that will supply power to a proposed mixed-use urban district, to be supported by a 20-megawatt-hour BESS unit. Subscribers can read detailed reports for the Burbank and Ithaca projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for solar-energy projects set to begin construction across the U.S. in the current quarter.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 U.S. states for solar-generation projects set to begin construction through December.Arizona leads all other U.S. states in fourth-quarter solar-generation kickoffs, fueled by two high-value projects from a pair of leading players in the market: Canadian Solar Incorporated's (NASDAQ:CSIQ) (Guelph, Ontario) $380 million Papago Solar Plant in Tonopah, which is expected to generate 300 megawatts (MW) from about 1.4 million photovoltaic (PV) panels, and Invenergy LLC's (Chicago, Illinois) $320 million Hashknife Solar Plant in Joseph City, which is expected to generate 275 MW from PV panels provided by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona).
Newer players also are finding a foothold in Arizona. EVelution Energy LLC (Yuma, Arizona), which was founded in 2021 to provide carbon-neutral materials to the electric vehicle (EV) battery market, is planning to begin construction on a $50 million solar plant in Wellton to power its cobalt-processing plant, which also is under construction. The power facility will comprise a 28.4-MW solar farm and a 24-MW battery energy-storage system (BESS), which will fuel the production of 7,000 tons per year of carbon-neutral, battery-grade cobalt and 33,000 tons per year of cobalt sulphate.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more from detailed reports on the Tonopah, Joseph City and Wellton projects.
BESS projects accompany many of the solar facilities that are slated to kick off across the U.S. in the fourth quarter, including a pair from two other industry leaders: Vistra Energy Corporation's (NYSE:VST) (Irving, Texas) solar farm in Kincaid, Illinois, and Enbridge Incorporated's (NYSE:ENB) (Calgary, Alberta) solar farm in Putnam, Texas. The 60-MW Kincaid project includes an 8-MW BESS, while the 425-MW Putnam project includes a 131-MW BESS. Subscribers can read detailed reports for the Kincaid and Putnam projects.
"Looking broadly across the markets we serve, the interconnection queues are largely filled with wind, solar and battery resources for a number of reasons, including tax incentives, state policies and the preferences of large customers," a Vistra executive said in a recent quarterly earnings-related conference call. Another executive later added: "We remain committed to our opportunistic approach to our solar and energy storage growth strategy and continue to target levered returns of mid-teens or higher for these projects."
Even smaller-scale solar projects can feature BESS units: Hollywood Burbank Airport in Burbank, California, plans to install 2.8 MW of rooftop solar units to help power its facility, to be supported by a BESS unit of undetermined capacity. Similarly, Nexamp Incorporated (New York, New York) is developing the Carrowmoor Solar Project in Ithaca, New York, a 5-MW solar array that will supply power to a proposed mixed-use urban district, to be supported by a 20-megawatt-hour BESS unit. Subscribers can read detailed reports for the Burbank and Ithaca projects.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for solar-energy projects set to begin construction across the U.S. in the current quarter.
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) platform 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 more than 200,000 current and future projects worth $17.8 trillion (USD).
