WSJ: U.S. Renewable Power Growth is Setting New Records on the Back of Federal Support
February 21, 2024 In 2023, renewable energy made significant strides in the United States, supplying nearly a quarter (about 25%) of the nation’s electricity demand. This growth was supported by the addition of 42 gigawatts of renewable power generating capacity and 7.5 gigawatts of battery storage to the U.S. grid. Federal policies, such as the Inflation Reduction Act and grants from the Energy Department, played a crucial role in fostering the expansion of renewable energy. Despite challenges like slowing electric vehicle sales and offshore wind project difficulties, optimism prevailed, with substantial investment flowing into clean energy funds. Projections indicate a continued shift towards renewables, with coal declining to 15.8% of electricity generation and renewables increasing to 23% while natural gas maintains a significant share at 43%.