Renewable energy is now over 30% of total US utility-scale electrical generating capacity and on track to reach 37% by the end of 2027, according to data in two new end-of-the-year reports just released by the Federal Energy Regulatory Commission (FERC) and the US Energy Information Administration (EIA) and reviewed by the SUN DAY Campaign.
In addition, renewables – i.e., solar, wind, biomass, geothermal, and hydropower – provided almost 25% of the US’s electrical generation during the first 10 months of 2024.
Further, October was the 14th month in a row in which solar was the largest source of new capacity, putting it on track to become the US’s second-largest source of capacity, behind natural gas, in three years or sooner.
Renewables were over 90% of new generating capacity through October 2024
In its latest monthly “Energy Infrastructure Update” (with data through October 31, 2024), FERC says 41 “units” of solar totaling 1,970 megawatts (MW) were placed into service in October along with three units of wind (174 MW). Combined, they accounted for 99.9% of all new generating capacity added during the month. Natural gas provided the balance – a mere 3 MW.
During the first 10 months of 2024, solar and wind added 21,425 MW and 2,799 MW, respectively. Combined with 213 MW of hydropower and 6 MW of biomass, renewables were almost 90.5% of capacity added. The balance consisted of the 1,100 Vogtle-4 nuclear reactor in Georgia plus 1,456 MW of gas, 11 MW of oil, and 8 MW of “other.”
Solar was 92% of new capacity in October and 79% during the first 10 months of 2024
Solar accounted for 79.3% of all new utility-scale generation placed into service in the first 10 months of 2024. In October alone, solar comprised 91.8% of all new capacity added.
New wind capacity YTD accounted for most of the balance – 10.4% through October.
Solar capacity additions through the end of October were 80.5% higher than during the same period in 2023. Meanwhile, new natural gas capacity was less than one-sixth (15.3%) of that added last year.
Solar has now been the largest source of new generating capacity for 14 months straight, from September 2023 to October 2024. For a majority of those months, wind took second place.
Solar + wind are now over 21% of US generating capacity
The combined capacities of just solar and wind now constitute 21.2% of the US’s total available installed utility-scale generating capacity.
However, roughly one-third 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 country’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 generating capacity up to 9.5%, further expanding its lead over hydropower (7.7%). Wind is currently at 11.8%. With the inclusion of biomass (1.1%) and geothermal (0.3%), renewables now stand at 30.37% of total US utility-scale generating capacity.
Installed utility-scale solar has now moved into fourth place – behind natural gas (43.3%), coal (15.5%) and wind – for its share of generating capacity after previously surpassing that of nuclear power (7.9%).
Solar will soon become the second-largest source of US generating capacity
FERC reports that net “high probability” additions of solar between October 2024 and September 2027 have risen to 93,803 MW – an amount more than four times the forecast net “high probability” additions for wind (23,261 MW), the second fastest-growing resource.
FERC also foresees growth for hydropower (1,316 MW), biomass (164 MW), and geothermal (90 MW). On the other hand, there is no new nuclear capacity in FERC’s three-year forecast, while coal, oil, and natural gas are projected to shrink by 19,863 MW, 2,244 MW, and 90 MW, respectively.
If FERC’s current “high probability” additions materialize, by October 1, 2027, solar will account for almost one-sixth (15.5%) of the nation’s installed utility-scale generating capacity. That would be greater than either coal (13.0%) or wind (12.6%) and substantially more than either nuclear power (7.4%) or hydropower (7.3%). The installed capacity of utility-scale solar would thus rise to second place – behind only natural gas (40.3%).
Meanwhile, the mix of all renewables would account for 36.7% of total available installed utility-scale generating capacity – rapidly approaching that of natural gas – with solar and wind constituting more than three-quarters (76.5%) of the installed utility-scale renewable energy capacity.
The combined capacities of all renewables, including small-scale solar, seem likely 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 is factored in, within three years, total US solar capacity (i.e., small-scale plus utility-scale) 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 would drop to about 37%.
Moreover, FERC reports that there may actually be as much as 213,902 MW of net new solar additions in the current three-year pipeline in addition to 66,094 MW of new wind, 7,123 MW of new hydropower, 235 MW of new biomass, and 199 MW of new geothermal. In addition, new solar capacity has regularly exceeded FERC’s forecasts. Thus, renewables’ share could be even greater by early autumn 2027.
Solar is still the fastest-growing source of US electrical generation
In its latest monthly “Electric Power Monthly” report (with data through October 31, 2024), EIA says the combination of utility-scale and “estimated” small-scale (e.g., rooftop) solar increased by 26.3% in the first 10 months of 2024 compared to the same period in 2023.
Utility-scale solar thermal and photovoltaic expanded by 30.8% during the 10-month period (and by 37.8% in October alone), while small-scale solar PV increased by 15.8%, thereby making solar once again the fastest growing source of US electrical generation.
For perspective, between January and October inclusive, natural gas grew by 4.1% and nuclear power by just 0.7% while coal contracted by 4.0%.
Small-scale solar (i.e., systems <1 MW) accounted for 27.9% of all solar generation and provided 2% of US electricity supply in the first 10 months of this year.
Together, utility-scale and small-scale solar were 7.2% of total US electrical generation for the 10-month period and 7.7% in October alone.
Renewables provided 24% of US electrical generation in first 10 months of 2024
Wind and solar provided 17.2% of US electrical generation during the first 10 months of 2024.
Between January and October inclusive, electrical generation by the mix of all renewables (solar, wind, hydropower, biomass, and geothermal) grew by 9.0% year-over-year and provided 24.2% of total production. That share rose to 25.5% in October alone. By comparison, renewables accounted for 22.9% of electrical output in the first 10 months of 2023 and 23.1% in October last year.
The SUN DAY Campaign’s executive director Ken Bossong said:
Calendar year 2024 has proven to be a period of remarkable growth by renewables, especially solar.
The question now is whether they will continue that growth in 2025 or will the incoming Trump Administration adversely affect it.
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. 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. They have 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.
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On today’s high-powered episode of Quick Charge, we’ve got Honda fuel cell manager David Perzynski here to talk about Honda’s forty year history developing hydrogen powertrains, and the role Honda sees for HFCEVs in a battery dominated world.
In the course of the conversation we talk about several hydrogen articles posted in 2024, as well as some Honda projects related to CES. You’ll be able to read more about those, below. Enjoy!
New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!
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Sixthreezero’s wide range of electric bike models includes some fairly out-there models, but the company’s new four-wheeled electric bike really charts a new direction in the industry. Take a look at the new ANYterrain Stabilized 4-wheel Electric Bike.
It’s a mouthful of a name, but the ANYterrain Stabilized 4-wheel Electric Bike hauls more than just a bunch of extra words. The bike is rated to carry up to 350 lb (159 kg), and the 750W motor ensures it has the power to do so. With speeds of up to 20 mph (32 km/h), the quad bike is just as fast as most Class 1 and 2 e-bikes.
But the real game changer here is the design, offering four-wheeled stability that riders can’t get from a conventional three-wheeled trike.
Not only do four wheels provide better stability with a wider footprint, but the steering on the bike uses leaning geometry to take turns more naturally, helping riders feel even more stable.
With 20″ wheels in the rear and 16″ wheels in the front, the quad bike keeps a fairly low center of gravity. All four wheels use 4″ fat tires for better offroad riding and more comfortable shock absorption compared to narrow tires, and the rear wheels even feature a differential to better apply the motor’s power to the ground.
A twist throttle makes it easy to roll on that power, and a D/R switch on the bars lets riders put it in reverse for cases where they need a little help wiggling around in tight spaces. Pedaling backward from a stop can also engage the reverse. At 120 lbs (54 kg), this isn’t the type of bike you can just pick up and move around the garage without a little help so that reverse feature will likely come in handy.
A 48V and 20Ah battery offers 960Wh of capacity, which the company says translates into a range of up to 50 miles (80 km).
The battery is housed under a cargo basket in the rear, though a bench seat can be swapped for the basket, allowing riders to carry a passenger with them.
Electrek’s Take
This certainly won’t be a mass market type of e-bike, but I can see a real use case for neighborhood riding and local errands, especially for folks who don’t feel stable on a bicycle or even a trike.
Despite trikes offering great stability when going straight, some people can feel uncomfortable making turns on a trike, especially at higher speeds, because they can sometimes feel tippy under certain scenarios. This quad bike can still tip if you take a turn sharp enough, but the wider stance combined with the leaning steering means riders will even more stable than on a trike.
And since this will likely be used more by older riders, the reverse is an important feature for letting folks park the bike easily without dismounting and dragging it around.
There could be some legal hurdles in some areas that define “bicycles” as having either two or three wheels, but I’m guessing most cops aren’t jumping at the opportunity to ticket grandma for riding her quad bike on the local rails to trails network.
I love seeing more options like this, and I commend Sixthreezero for providing such interesting options to add to the market.
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Who said you had to break the bank to drive an electric vehicle? Several EV lease deals are available this December for under $300 or even $200 per month, but the savings may not last long. Here are some of the best EVs to consider leasing right now.
Electric vehicles accounted for nearly 9% of all vehicle sales in the US in the third quarter, its highest level on record.
“The growth is being fueled in part by incentives and discounts,” According to Stephanie Valdez Streaty, director of Industry Insights at Cox Automotive. The other part is the influx of more affordable models hitting the market.
In addition to the $7,500 federal tax credit, some discounts on EV models are reaching $10,000 to upwards of $20,000.
The massive incentives slash monthly payment prices, in many cases making them even more affordable than comparable gas-powered cars. According to a new Experian report, leasing accounted for 45% of all new EV transactions in the third quarter. That’s up significantly from 25% last year and just 9.5% in Q3 2022.
Including incentives, the average monthly payment for leasing an EV was $198 less than if you financed a new model.
With Trump’s transition team reportedly planning to “kill off” the $7,500 EV tax credit, the savings could largely disappear. As buyers rush to take advantage of the discounts, EV sales are expected to surge this month.
EV lease deals for under $300 a month this December
To close out the year strong and make room for new models, several companies are offering significant discounts on popular electric models, including Kia, Hyundai, Honda, GM, Ford, Stellantis, and more.
According to online automotive research firm CarsDirect, several EV models are even available for lease for under $300 or even $200 per month right now. You can view offers in your area at the bottom.
Lease From
Term (months)
Due at Signing
Effective rate per month (including upfront fees)
2025 Nissan LEAF
$129
36
$2,529
$199
2025 Kia Niro EV
$149
24
$3,999
$315
2024 Kia EV6
$159
24
$3,849
$319
2024 Hyundai IONIQ 5
$159
24
$3,999
$326
2024 Hyundai IONIQ 6
$159
24
$3,999
$326
2024 Nissan Ariya
$169
24
$6,219
$428
2024 Fiat 500e
$179
42
$2,979
$250
2024 Toyota bZ4X
$219
39
$2,999
$296
2024 Honda Prologue
$229
36
$1,299
$265
2024 Ford F-150 Lightning
$230
36
$6,206
$402
2024 Ford Mustang Mach-E
$251
36
$5,440
$402
2024 Subaru Solterra
$279
36
$279
$287
Tesla Model 3
$299
36
$2,999
$382
Tesla Model Y
$299
36
$2,999
$382
2024 Chevrolet Equinox EV
$299
24
$3,169
$431
Best EV lease deals for under $300 a month in December 2024
The 2025 Kia Niro EV remains one of the most affordable electric cars on the market, with leases starting at as low as $149 for 24 months. With $3,999 due at signing, the effective rate is just $315 per month. That’s even cheaper than the plug-in hybrid model at $414 per month (including $3,499 due at signing).
Kia also offers a $199 per month for 36 months EV lease deal. With $3,999 due at signing, the effective cost is just $310 per month.
The EV6, Kia’s dedicated EV based on the same platform as Hyundai’s IONIQ 5, is listed with lease prices as low as $159 for 24 months. With $3,849 due at signing, the 2024 Kia EV6 Light Long Range RWD trim costs just $319 per month to lease.
Speaking of the IONIQ 5, Hyundai’s electric SUV is also available to lease this month for under $200. Through its “Hyundai Getaway Sales Event,” Hyundai is offering a $159 for 36 months lease offer on the IONIQ 5. Hyundai’s big savings come as the upgraded 2025 model is arriving at dealers.
You can also snag the 2024 Hyundai IONIQ 6 for the same $159 per month. With $3,999 due at signing the effective cost is just $326 per month.
Nissan’s Ariya electric SUV is another top choice, with lease prices starting at as low as $99 per month. However, that’s only available in Colorado. In other parts of the country, like New York, the 2024 Nissan Ariya is listed at $169 for 24 months. With $6,219 upfront, the effective rate is $428 per month.
Fiat’s compact 500e EV is available to lease for $179 for 42 months this December. With $2,999 due at signing, you can lease the 2024 500e INSPI(RED) trim for just $250 per month.
You can score Fiat’s EV for even cheaper in some areas. For example, one dealership in Colorado is offering a $0 for 27 month lease deal with $0 down, making the 500e essentially free.
Honda’s Prologue was the third best-selling EV in the US last month as sales continue surging this year. In a year end promo, Honda made the electric SUV even more attractive with a 0% APR offer and up to $6,000 off.
Although not under $200, you may want to consider a few other EV lease deals this month. For example, Honda is offering its electric Prologue at just $259 per month for 36 months. With $2,999 due upfront, you can drive off in Honda’s electric SUV for just $342 per month. That’s less than a Honda Civic at $279 per month despite costing nearly twice as much.
At just $299 for 24 months, the 2024 Chevy Equinox EV is also worth a look. With $3,169 due at signing, you can lease the electric Equinox for just $431 per month.
Tesla is offering three free months of Supercharging and Full Self-Driving in its year end deals. However, you must take delivery by December 31, 2024.
Ford is another company making a strong end of year push with big savings on electric models. Through its new “Power Promise”, all EV buyers get a free Level 2 home charger and Ford will cover the cost of standard installation.
Ready to take advantage of the savings? We can help you find the best EV lease deals in your area. Check out our links below to view offers on popular electric models in your area.
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