In 2023, wind power, photovoltaic and energy storage accounted for 82% of the newly installed power
According to the U.S. Electric Power Information Content Administration, wind speed, solar and battery storage will account for 82 percent of the installed generating capacity of a new utility operation proposed by real estate developers in the United States by 2023.
Since 2010, the amount of solar power generated by U.S. utilities has increased. As the cost of solar panels has plummeted, states and the federal government have enacted generous tax policies that have fueled a surge in solar power. By January 2023, U.S. utilities will have installed 73.5 gigawatts of solar power, or about 6 percent of the total installed power in the United States. Solar is estimated to account for more than half of all new electricity installed in the U.S. in 2023, which would be the largest number of new solar installations in the U.S. in a single year, the first year that more than half of all new U.S. capacity will be solar.
Before 2000, wind power capacity in the United States was insignificant. Similar to solar, tax incentives, the relatively low cost of building turbine engines and a new overall target for renewable resources have greatly boosted wind power growth in the United States. By January 2023, the United States had 141.3 gigawatts of wind power installed, or about 12 percent of the country's total installed generating capacity. The developers plan to add another 7.1GW of wind power by 2023.
Most of the country's wind power capacity is located in the Midwest, a vast expanse of prairies that can accommodate large and medium-sized wind farms. Offshore wind farms around the United States offer great potential for future increases in wind power capacity. However, wind and solar power are intermittent and must be generated when the wind is blowing or the sun is shining. A growing number of new wind and solar projects are installing battery storage systems because rechargeable batteries can store wind and solar power projects for later use. In 2023, the developer proposes adding 8.6 gigawatts of battery storage to the grid, which would double the total installed capacity of battery storage in the United States.