US solar power is set to rise, with 36GW and 43GW of new solar capacity expected in 2024 and 2025, boosting its share of total electricity from 4% in 2023 to 6% in 2024 and 7% in 2025.
That’s according to the US Energy Informarion Administration’s Short Term Energy Outlook, which suggests overall, electricity generation is projected to grow by 3% in 2024 and stay steady in 2025.
Coal-fired capacity is on a decline, expected to drop by 9% in 2024 and an additional 10% in 2025 due to higher costs and the retirement of 12GW of coal-fired capacity.
Natural gas generation, however, is expected to stay the same in 2024 and 2025, maintaining a stable presence in the US energy mix.
According to the report, crude oil production, records are in sight.
Forecasts show it reaching 13.2 million b/d in 2024 and over 13.4 million b/d in 2025, driven by more efficient wells.
