U.S. Solar Shines with More than $8 Billion in 2Q Kickoffs

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Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. installed 20.2 gigawatts (GW) of solar-power capacity in 2022, accounting for 50% of all new electricity-generating capacity added in the U.S. last year and the largest annual share in the industry's history, according to the Solar Energy Industries Association (SEIA). The U.S. now has 142.3 GW of installed solar capacity, and last year's passage of the Inflation Reduction Act is expected to further bolster development for years to come. Industrial Info is tracking about $8.4 billion worth of active solar-power projects across the U.S. that are set to begin construction in the second quarter, which Industrial Info's researchers believe have a medium-to-high likelihood (70% or more) of beginning as planned.

Click on the image at right for a graph detailing U.S.-based solar projects that are set to kick off from April through June, by plant parent company.

NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida), one of the most prolific U.S.-based developers of solar projects over the past decade, leads among project parent companies with eight projects totaling about $1.5 billion of investment value. While much of this activity has been centered around subsidiary Florida Power & Light Company, two of NextEra's highest-valued projects set to kick off in the second quarter are outside the Sunshine State: the $530 million expansion of the Dunns Bridge Solar Plant in Tefft, Indiana, which will add 435 megawatts (MW) to the existing 265-MW facility, and the $130 million Badger State Solar Plant in Jefferson, Wisconsin, designed to generate 149 MW.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Dunns Bridge and Badger State projects.

"We placed into service approximately 450 megawatts of cost-effective solar during 2022, and we anticipate commissioning another roughly 1,200 megawatts of low-cost solar in 2023, bringing our total solar build-out to roughly 1.7 gigawatts within the first two years of our current rate agreement," said John Ketchum, the chief executive officer of NextEra, in the company's most recent quarterly earnings-related conference call. For more information on NextEra's recent progress, see January 26, 2023, article - NextEra Builds Out Renewables, Sets Sights on Green Hydrogen.

Invenergy LLC (Chicago, Illinois) has only three projects scheduled to kick off in the second quarter, but they still total more than $1 billion in investment. They include the $300 million Darien Solar Energy Center in Darien, Wisconsin, which is designed to generate 250 MW from ground-mounted photovoltaic (PV) panels. Subscribers can learn more from Industrial Info's project report.

rPlus Energies, a subsidiary of commercial real-estate developer Gardner Company (Salt Lake City, Utah), is at work on just one project, but it is the single highest-valued solar project set for the second quarter: the $750 million Green River Energy Center in Green River, Utah, which will include 400 MW of solar-generation capacity and 200 MW of battery energy-storage system (BESS) capacity. In October, rPlus announced PacifiCorp (Portland, Oregon) would purchase all 400 MW generated by the facility, as part of the latter's goal to provide 1,200 MW of renewable energy to the area. Subscribers can learn more from Industrial Info's detailed project report.

Similarly, Nordex S.E. (Rostock, Germany) is among the top second-quarter solar developers, thanks to a single project: the $450 million Mason Solar Plant in Mays Lick, Kentucky, which will include 250 MW of solar-generation capacity and a 100-MW BESS unit. Subscribers can learn more from Industrial Info's detailed project report.

Castro Solar One LLC, a newcomer to the renewable-energy scene, is preparing to begin construction on the $250 million Castro Solar Generating Station in Nazareth, Texas, which is expected to generate 223 MW from 578,000 PV panels. Although not among the top states for solar development in the second quarter, Texas leads all other states for solar projects slated to begin construction for all of 2023. Subscribers can learn more from Industrial Info's project report.

Subscribers to Industrial Info's GMI Project Database 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 active solar-power projects across the U.S. that are set to begin construction in the second quarter, which have a 70% or more probability of beginning as planned.

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).