Renewables now make up 30% of US power capacity – FERC
Renewables – solar, wind, biomass, geothermal, hydropower – are now 30% of total US electrical generating capacity, according to analysis of FERC’s mid-year data.
The Federal Energy Regulatory Commission (FERC)’s latest monthly “Energy Infrastructure Update” (with data through June 30, 2024), which was reviewed by the SUN DAY Campaign, also reported that June was the 10th month in a row in which solar was the largest source of new capacity. That puts solar on track to become the US’s second-largest source of capacity – behind only natural gas – within three years.
FERC says renewables were 99% of new generating capacity in June and 91% in H1 2024. 37 “units” of solar totaling 2,192 megawatts (MW) were placed into service in June along with one unit of hydropower (34 MW). Combined, they accounted for 98.9% of all new generating capacity added during the month. Natural gas and oil provided the balance: 20 MW and 5 MW, respectively. (Generating capacity is not the same as actual generation.)
During the first half of 2024, solar and wind added 13,072 MW and 2,129 MW, respectively. Combined with 212 MW of hydropower and 3 MW of biomass, renewables were 91.2% of capacity added. The balance consisted of the 1,100 Vogtle-4 nuclear reactor in Georgia plus 369 MW of gas, 11-MW of oil, and 3-MW of “other.”
Solar was 97% of new capacity in June and 77% during H1 2024. The new solar capacity added in the first half of 2024 was more than double the solar capacity (6,446 MW) added year-over-year. Solar accounted for 77.4% of all new generation placed into service in the first half of 2024.
New wind capacity in the same period accounted for most of the balance – 12.6% – which was slightly less than that added year-over-year (2,761 MW).
In June alone, solar comprised 97.4% of all new capacity added, followed by hydropower (1.5%). Solar has now been the largest source of new generating capacity for ten months straight: September 2023 – June 2024. For seven of those 10 months, wind took second place.
Solar plus wind are now more than a one-fifth of US generating capacity. The combined capacities of just solar and wind now constitute more than 20.7% of the US’s total available installed utility-scale generating capacity.
However, a third or more of US solar capacity is in the form of small-scale (e.g., rooftop) systems that isn’t reflected in FERC’s renewables data. Including that additional solar capacity would bring the share provided by solar + wind closer to a quarter of the US’s total.
Solar’s share of US generating capacity advances it to fourth place. The latest capacity additions have brought solar’s share of total available installed utility-scale (that is, >1 MW) generating capacity up to 9%, further expanding its lead over hydropower (7.8%). Wind is currently at 11.8%. With the inclusion of biomass (1.1%) and geothermal (0.3%), renewables now claim a 30% share of total US utility-scale generating capacity.
Installed utility-scale solar has now moved into fourth place – behind natural gas (43.3%), coal (15.8%), and wind – for its share of generating capacity after having recently surpassed that of nuclear power (8%).
Solar will soon become the second largest source of US generating capacity. FERC reports that net “high probability” additions of solar between July 2024 and June 2027 total 88,526 MW – an amount almost four times the forecast net “high probability” additions for wind (23,851 MW), the second fastest growing resource.
FERC also foresees growth for hydropower (1,240 MW), geothermal (400 MW), and biomass (90 MW). There’s no new nuclear capacity in FERC’s three-year forecast, and coal, natural gas, and oil are projected to contract by 20,542 MW, 3,106 MW, and 1,629 MW, respectively.
If FERC’s current “high probability” additions materialize, by July 1, 2027, solar will account for more than one-seventh (14.8%) of the nation’s installed utility-scale generating capacity. That would be greater than either coal (13.3%) or wind (12.7%), and substantially more than either nuclear power (7.5%) or hydropower (7.4%). That means the installed capacity of utility-scale solar would move into the No. 2 spot behind natural gas (40.3%).
Meanwhile, the mix of all renewables would account for 36.3% of total available installed utility-scale generating capacity – rapidly approaching that of natural gas – with solar and wind constituting more than three-quarters of the installed renewable energy capacity.
If small-scale solar systems are taken into account, within three years, total US solar capacity is likely to approach – and very possibly surpass – 300 GW. In turn, the mix of all renewables would then exceed 40% of total installed capacity, while the share of natural gas share would drop to about 37%.
Ken Bossong, the executive director of nonprofit research and educational organization SUN DAY Campaign, said:
With each passing month, renewables – led by solar – expand their contribution to the nation’s electrical capacity.
Growing from just a fraction of one percent a decade ago, solar is now nearly a tenth of US utility-scale generating capacity and poised to reach 15% within three years.
Read more: US power grid boosts capacity by 20.2 GW in the first half of 2024
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Environment
White House crypto czar David Sacks says stablecoin bill will unlock ‘trillions’ for U.S. Treasury
U.S. President Donald Trump sits next to Crypto czar David Sacks at the White House Crypto Summit at the White House in Washington, D.C., U.S., March 7, 2025.
Evelyn Hockstein | Reuters
President Donald Trump‘s top crypto and AI advisor David Sacks said Wednesday that the administration expects the stablecoin legislation moving through the Senate to pass with “significant bipartisan support,” and claimed it could unlock demand for U.S. Treasuries.
“We already have over $200 billion in stablecoins — it’s just unregulated,” Sacks told CNBC’s “Closing Bell Overtime.” “If we provide the legal clarity and legal framework for this, I think we could create trillions of dollars of demand for our Treasuries practically overnight, very quickly.”
The GENIUS Act — a bill to regulate stablecoins — cleared a key procedural vote in the Senate. With 15 Democrats voting for the bill to pass the cloture threshold this week, the proponents have the votes necessary to avoid a filibuster.
“We have every expectation now that it’s going to pass,” added Sacks, though he didn’t answer a question about concerns from Democrats that there aren’t sufficient safeguards in place to keep the president and his family from profiting from legislation.
Democrats previously rejected the GENIUS Act in part on concern that President Trump’s personal cryptocurrency ventures, including his own meme coin and a stablecoin from his family’s crypto business, created an unprecedented conflict of interest.
Unlike digital assets such as bitcoin, which can trade wildly, stablecoins are a subset of cryptocurrencies whose value is tied to that of a real-world asset, like the U.S. dollar. Bitcoin hit a new record on Wednesday, nearing $110,000.
Tether, which is banked by Cantor Fitzgerald in the U.S., controls more than 60% of the stablecoin market. Deutsche Bank found that stablecoin transactions hit $28 trillion last year, surpassing that of Mastercard and Visa, combined.
Sacks, who has emerged as a powerful policy voice inside Trump’s inner circle, framed the GENIUS Act not just as a crypto breakthrough but as a national economic strategy.
“Stablecoins offer a new, more efficient, cheaper, smoother payment system — new payment rails for the U.S. economy,” he said. “It also extends the dominance of the dollar online.”
The White House has aggressively backed the effort, even as concerns mount over the president’s potential conflicts.
While Sacks sold $200 million in crypto-related holdings before taking his White House job according to a disclosure filing, Trump and his family have been leaning into building a crypto empire.
The Trumps are financial backers of World Liberty Financial, which just launched its own stablecoin — USD1 — backed by Treasuries and dollar deposits.
Abu Dhabi’s MGX investment fund recently pledged $2 billion in USD1 to Binance, the world’s largest digital assets exchange. It’s the company’s largest-ever investment made in crypto.
Still, the path to passage isn’t entirely smooth. Senator Josh Hawley, R-Mo., added a controversial rider to the bill that would cap credit card late fees — what’s seen as a poison pill that could alienate banking allies and stall final approval.
WATCH: Trump’s growing crypto empire raising conflict of interest concerns
The Trump administration wants to pull the plug on ENERGY STAR, the federal program behind those familiar blue labels on energy-efficient appliances, homes, and buildings. Launched in 1992, ENERGY STAR has saved Americans more than $500 billion in energy costs while slashing greenhouse gas emissions.
To dig into what this means for everyday Americans, we spoke with Rebecca Foster, CEO of clean energy nonprofit Vermont Energy Investment Corporation (VEIC), which has spent decades working to make homes, schools, and businesses more energy efficient.
Electrek: What is the ENERGY STAR program, and what are the benefits for consumers?
Rebecca Foster: It’s simple: ENERGY STAR helps customers and businesses save energy and reduce costs. The program does this by clearly labeling which products are energy-efficient options. It’s a certification of confidence – it does not dictate efficiency standards. The program was created in 1992 by President George H.W. Bush and has enjoyed decades of bipartisan support.
The brand has become the backbone of energy efficiency across the country. ENERGY STAR is a recognized and reliable mark of efficient appliances and electronics that lower costs and improve indoor air quality. The ENERGY STAR label has also expanded to include efficiency standards for weatherizing homes and certifying when new buildings are constructed to high efficiency standards. Utilities benefit from ENERGY STAR, too – with more efficient appliances and systems plugged in, they are better able to manage the grid and decrease costs for customers.
The main benefit to consumers is significant savings through energy efficiency. A typical home can save around $450 a year on their energy bills by choosing ENERGY STAR-certified products, according to a Lawrence Berkeley National Laboratory estimate. Lower-income households spend a greater proportion of their budget on energy, so losing that savings will be felt especially hard by these families. Energy efficiency programs that VEIC administers, including Efficiency Vermont, Efficiency Smart, and the DC Sustainable Energy Utility, have incorporated ENERGY STAR certifications into their rebates and educational materials for decades. The ENERGY STAR certification is an easy way to let people know which products are eligible for rebates and encourage folks to choose the more efficient option by making it more affordable with incentives. Combined, these programs have delivered more than $694 million in customer incentives since 2000, resulting in over $5.6 billion in lifetime customer savings.
Evaluations of the ENERGY STAR program show it saves US households about $40 billion a year nationwide – and has delivered about $500 billion in savings since it began. All for a program that costs the government just $30 million annually. According to the Consortium for Energy Efficiency‘s 2022 survey, where I worked for over a decade prior to joining VEIC, nearly 90% of US households report recognizing the ENERGY STAR label and almost half (45%) report knowingly purchasing an ENERGY STAR-certified product or home within the last 12 months.
Electrek: How would ending the ENERGY STAR program hurt consumers at a national and regional level?
Rebecca Foster: Efficiency labels and education from ENERGY STAR leads to more affordable energy bills for customers. Ending the program means less clarity and guidance for how to choose the more efficient option, which means higher costs month after month. Households are increasingly opting for more efficient, all-electric clean technologies like cold climate heat pumps for heating/cooling and EVs for their transportation needs. That means efficiency will become even more important for households to maintain lower electricity use. So, losing ENERGY STAR now will really cost Americans more in the short and long term.
Regionally and on a local level, getting rid of ENERGY STAR could disrupt energy efficiency programs run by states, utilities, and third-party administrators that rely on the ENERGY STAR label for rebates. It could also hurt manufacturers, distributors, and contractors who have built their businesses around providing and installing more efficient equipment. Existing lists of qualified products will quickly become out of date as new models and new technology enter the market. We could see programs in different states or run by different entities come up with confusing or competing standards for their rebates, making it more difficult for people to save energy.
All of these impacts hurt consumers, especially at a time when families and businesses are already struggling to keep up with rising costs.
Electrek: What sort of impact would ending this program have on the grid?
Rebecca Foster: A stable electric grid is more important than ever as we see growing electricity demand due to data centers and AI and an increasing reliance on electricity to meet more of our daily needs. ENERGY STAR has been the backbone of energy efficiency across the country for decades, and it’s delivered the more efficient lighting, appliances, and heating systems that are in use today in countless homes. Efficiency is a major reason why US electricity demand has been flat for the last two decades, according to the EIA.
As we see the electrification of our transportation and heating sectors, we’re also going to see unprecedented growth in electricity demand – an 11% increase in New England alone over the next decade, according to ISO New England. That’s part of a 50% increase in demand nationally by 2050, according to the National Electrical Manufacturers Association.
Losing ENERGY STAR would slow down and complicate management of the grid because efficiency contributes to a stable and optimized grid. It also helps avoid the costly expansion of transmission projects by reducing demand without asking customers to make large behavioral changes.
A more efficient grid can also avoid investing in new fossil fuel power generation, like natural gas power plants, helping meet state and regional goals for clean energy and emissions reductions. ENERGY STAR is a great tool for realizing an efficient, electrified future. Ending the program will put a greater burden on grid operators and utilities by taking away one of the most effective tools in the toolbox for addressing rising energy demand: customer participation.
Rebecca Foster is VEIC’s CEO. Heading up the executive leadership team, Rebecca guides the nonprofit’s strategic planning, business development, and performance across its contracts nationwide. With nearly 25 years of experience in the clean energy industry, Rebecca is a seasoned leader dedicated to the organization’s mission of generating the energy solutions the world needs.
VEIC is a national clean energy nonprofit that delivers high-impact energy solutions focused on equity and innovation. Since 1986, VEIC has been recognized as a leader in decarbonization strategies, working with governments, utilities, foundations, and businesses to reduce GHG emissions and create a sustainable energy system that benefits everyone.
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GM’s luxury brand now has a full lineup of EVs, and it’s already starting to pay off. Cadillac’s EVs are quickly catching on with nearly 80% of buyers new to the brand, many of them Tesla drivers.
Cadillac’s new EVs are winning over Tesla drivers
Cadillac is coming off its strongest quarters since 2008 after retail sales surged 21% in the first three months of the year.
After launching the new Optiq, Vistiq, and Escalade IQ, Cadillac now offers a full lineup of luxury electric SUVs. According to Brad Granz, Cadillac’s global marketing director, its new EVs are attracting buyers from other brands, including Tesla.
During a recent event to showcase the three-row Vistiq, Granz told CNBC that nearly 80%, or 8 out of every 10 Cadillac EV buyers, are new to the brand.
“We see the opportunity to increase the conquest rate for Tesla, absolutely,” Cadillac’s global marketing chief added.
About 25% of Cadillac Lyriq buyers are former Tesla drivers, up from 10 to 15% previously. Cadillac expects to gain a bigger share of the luxury EV market with three new EVs rolling out across all SUV segments.
The bestselling luxury EV brand
Meanwhile, Tesla has seen sales slow over the past few months amid backlash over CEO Elon Musk’s political rants and support for President Donald Trump.
According to the most recent S&P Global Mobility data (via Automotive News), Tesla remained the top-selling EV brand in March with over 51,000 registrations, up 1.1% from March following two months of lower numbers. Cadillac, on the other hand, placed eighth after EV registrations climbed 86%.
Cadillac’s EV lineup this year includes the midsize Lyriq, the entry-level Optiq, the three-row Vistiq, and the larger Escalade IQ.
The 2026 Cadillac Optiq, which is about the same size as the Tesla Model Y, starts at $54,390 and has a range of up to 302 miles.
Dubbed the “mini Escalade,” the Vistiq is Cadillac’s new three-row luxury electric SUV, starting at $78,790. Meanwhile, the massive Escalade IQ starts at about $130,000. Later this year, it will add the ultra-luxury Celestiq, priced at around $340,000.
According to Edmunds.com (via CNBC), shoppers who look at a new Cadillac EV rarely look at a Tesla vehicle at the same time (cross-shop). In other words, those choosing an electric Cadillac are not even considering a Tesla.
The top cross-shopped vehicles for Cadillac’s Lyriq include the Optiq, Acura ZDX, Ford Mustang Mach-E, BMW iX, Kia EV9, and Chevy’s Blazer and Equinox EVs.
Cadillac’s goal is to be the bestselling luxury EV brand this year, but that doesn’t include Tesla. “We’re really poised for success. We’re going to take this portfolio, now that Vistiq is rounding out the SUV portfolio, and become the No. 1, tier-one EV luxury brand,” Franz said.
With new EVs arriving, will Cadillac see even more Tesla drivers trade in? Comment below and let us know your thoughts.
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