Renewables now make up 30% of US utility-scale generating capacity
Renewables now claim a 30.1% share of total US utility-scale electrical generating capacity, according to new Federal Energy Regulatory Commission (FERC) data.
Solar also provided nearly 100% of all new generating capacity in August, according to the SUN DAY Campaign, who reviewed the FERC data.
What’s more, renewable energy sources – biomass, geothermal, hydropower, solar, wind – accounted for over 90.1% of total US electrical generating capacity added in the first eight months of 2024.
Renewables were 99.8% of new generating capacity in August and 90.1% in first two-thirds of 2024. In its latest monthly “Energy Infrastructure Update” (with data through August 31, 2024), FERC says 29 “units” of solar totaling 1,404 megawatts (MW) were placed into service in August along with one unit of biomass (3 MW). Combined, they accounted for 99.8% of all new generating capacity added during the month. Natural gas provided the balance (3 MW).
During the first eight months of 2024, solar and wind added 16,546 MW and 2,270 MW, respectively. Combined with 212 MW of hydropower and 6 MW of biomass, renewables were 90.1% of capacity added. The balance consisted of the 1,100 Vogtle-4 nuclear reactor in Georgia plus 977 MW of gas, 11 MW of oil, and 3 MW of “other.”
Solar was 99.6% of new capacity in August and 78.3% during the first eight months of 2024. The new solar capacity added from January through August this year was more than double the solar capacity (8,248 MW) added year-over-year. Solar accounted for 78.3% of all new generation placed into service in the first two-thirds of 2024.
New wind capacity year-to-date accounted for much of the balance – 10.7% – but that was less than that added year-over-year.
In August alone, solar comprised 99.6% of all new capacity added. Solar has now been the largest source of new generating capacity added each month for 12 months straight, from September 2023 to August 2024.
Solar and wind now make up 21% of US generating capacity. The combined capacities of solar and wind now constitute more than one-fifth (21.0%) of the US’s total available installed utility-scale generating capacity with wind at 11.74% and solar at 9.21%.
However, approximately 30% of US solar capacity is in the form of small-scale (e.g., rooftop) systems that is not reflected in FERC’s data. Including that additional solar capacity would bring the share provided by solar + wind closer to a quarter of the US total.
With the inclusion of hydropower (7.7%), biomass (1.1%) and geothermal (0.3%), renewables now claim a 30.1% share of total US utility-scale generating capacity.
Solar’s share of US generating capacity greater than either nuclear or hydropower. The latest capacity additions have brought solar’s share of total available installed utility-scale (i.e., >1 MW) generating capacity up to 9.2%, further expanding its lead over nuclear power (8.0%) and hydropower (7.7%).
Installed utility-scale solar has now moved into fourth place – behind natural gas (43.3%), coal (15.7%), and wind – for its share of generating capacity.
The combined capacities of all renewables, including small-scale solar, remain on track to exceed natural gas within three years. As noted, FERC’s data do not account for the capacity of small-scale solar systems. If that’s factored in, then within three years, total US solar capacity (i.e., small-scale plus utility-scale) is likely to surpass 300 GW. In turn, the mix of all renewables would then exceed 40% of total installed capacity while natural gas’ share would drop to about 37%.
Moreover, FERC reports that there may actually be as much as 212,412 MW of net new solar additions in the current three-year pipeline in addition to 67,395 MW of new wind, 8,944 MW of new hydropower, 199 MW of new geothermal, and 195 MW of new biomass. Thus, renewables’ share could be even greater by late summer 2027.
“Every month, for a full year now, solar has led the pack in providing new US generating capacity,” noted the SUN DAY Campaign’s executive director Ken Bossong. “And it is poised to continue dominating capacity additions for at least the next three years.”
Read more: Texans want its lawmakers to stop messing with its solar growth
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If you’re considering going electric, May will be a great time to score a deal on an EV lease. Automakers are slashing lease prices on some of the most popular EVs to move inventory – here are four standouts.
Nissan Ariya SUV
The Nissan Ariya SUV has an MSRP of $41,805. Its lease term is 36 months, with $4,409 due at signing and a mileage allowance of 10,000 a year. Monthly payment? A sweet $129!
Nissan cut the 2025 Ariya Engage’s price by $144 in April, so it now has an effective monthly cost of $251 – that’s seriously affordable for an electric SUV. If you’re already a Nissan driver, then you’re going to get an even better deal, because Nissan is offering a $1,000 loyalty discount on the Ariya, which brings its effective cost down to $224 per month.
CarsDirect, which sniffed out this deal, thinks this Ariya deal will be in place until Memorial Day, so take advantage of tariff-free pricing while you can.
Click here to find a local dealer that may have the Nissan Ariya in stock. –trusted affiliate copy
Honda Prologue SUV
The Honda Prologue SUV has an MSRP of $48,850. Its lease term is 36 months, with $1,399 due at signing and a mileage allowance of 10,000 a year. The monthly payment on the Prologue is $239.
The 2024 Honda Prologue has up to $18,800 in rebates, and the price includes a $1,000 lease loyalty discount or conquest offer. In California and other ZEV states, the EX has an effective cost of just $278 per month; in other parts of the US, pricing will be around $30 higher. This offer ends July 7.
Click here to find a local dealer that may have the Honda Prologue in stock. –trusted affiliate copy
Tesla Model 3
The Tesla Model 3 has an MSRP of $43,880. Its best lease term is 24 months, with $1,044 due at signing and a mileage allowance of 10,000 a year. The monthly payment on the Model 3 is $349.
The 2025 Tesla Model 3 still has the $7,500 federal government EV rebate. Several months ago, Tesla reduced the amount due at signing on all Model 3s. And for those who want to lease a Long Range Model 3, the effective cost can be as low as $393 per month.
You can lease the Model 3 for 36 months, but the folks at CarsDirect found that the better deal will be had on 24-month leases. They compared the Model 3’s MSRP to the 2025 Lexus IS 300 F Sport’s MSRP, which is nearly identical, and the Model 3 was around 30% cheaper to lease.
Acura ZDX
The 2024 Acura ZDX has an MSRP of $65,850. Its best lease term is 36 months, with $4,699 due at signing and a mileage allowance of 7,500 a year. The monthly payment on the ZDX is $299.
The 2024 ZDX is Acura’s cheapest vehicle to lease because it features up to $29,450 in lease cash. However, the best deal is limited to California and ZEV states. If you cash in on a loyalty discount or conquest cash, the effective cost is $430 per month. This offer runs til June 30.
Click here to find a local dealer that may have the Acura ZDX in stock. –trusted affiliate copy
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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Ford (F) reported its first-quarter earnings, beating Wall Street’s revenue and EPS expectations. However, with Trump’s auto tariffs, Ford is suspending full-year guidance. Here’s a breakdown of Ford’s Q1 2025 earnings
Ford Q1 2025 earnings preview
After crosstown rival General Motors cut its full-year financial guidance last week, investors are waiting to see if Ford will follow suit.
Ford’s previous 2025 forecast called for EBIT of $7 billion to $8.5 billion and capital expenditures between $8 billion and $9 billion.
The biggest threat is Trump’s new auto tariffs, which include a 25% duty on imported vehicles and many parts. Since Ford builds a greater percentage of vehicles in the US than any other major automaker, outside of Tesla, it isn’t expected to see as big of an impact.
CEO Jim Farley called it “an opportunity for Ford,” during an interview with CNN last week, saying the company has a “different footprint, a different exposure for tariffs.”
Ford imports around 21% of the vehicles it sells in the US, while GM imports around 46%. According to Estimize, Wall St expects Ford to post Q1 EPS of $0.0 on revenue of $38.02 billion.
The company reports earnings for each of its three business units, Ford Blue (gas-powered vehicles), Model e (electric vehicles), and Ford Pro (commercial and software business).
In the fourth quarter, Ford’s EV unit (Model e) lost another $1.4 billion while Pro and Blue each reported an adjusted EBIT of $1.6 billion.
Financial breakdown
Ford beat Wall Street estimates, reporting first-quarter revenue of $40.7 billion with an adjusted EPS of 0.49.
- Q1 2025 Revenue: $40.7 billion vs $38.02 billion expected.
- Q1 2025 Adjusted EPS: $0.49 vs $0.0 expected.
The company posted adjusted EBIT of $1 billion, down 63% from Q1 2024. Ford said its first-quarter EBIT suffered a nearly $200 million hit from added tariff costs, primarily in Ford Blue and Ford Pro.
Ford Pro generated an EBIT of $1.3 billion, Ford Blue $96 million, and Ford Model e reported an EBIT loss of $849 million.
For Model e, the company is focused on improving gross margins and “exercising a disciplined approach to investments in battery facilities and next-generation products.” Although still a nearly $1 billion loss, it’s still a $500 million improvement from Q1 2024.
Ford said higher Model e revenue was driven by new EVs launching in Europe, like the electric Explorer and Capri.
The company said its “Power Promise” promotion, which includes a free home charger and several other benefits, has helped drive demand in the US.
Although it’s tracking within its previous full-year adjusted EBIT guidance of between $7 billion and $8.5 billion, Ford is suspending full-year guidance due to the uncertainty surrounding tariffs.
Ford estimates the full-year gross cost of tariffs to be around $2.5 billion. It expects a tariff-related net adverse adjusted EBIT impact of about $1.5 billion for the full year 2025.
Ford also extended its “From America, For America” campaign last week. The promo includes employee pricing on most 2024 and 2025 models and now runs through July 4.
Check back for more info from Ford’s first quarter conference call. Ford is also hosting its annual meeting on Thursday, May 8, where we should learn more about its EV plans and how it will navigate the new tariffs.
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