During the third quarter of 2023, renewables have installed a record 5.5GW of utility-scale renewable capacity, led by solar, according to American Clean Power Association (ACP).
In its Clean Power Quarterly Market Report, ACP highlights that it is the strongest Q3 to date, which is up 13% over the same period in 2022. Solar continues to lead utility-scale installations with 3.1GW in the quarter, up from the 2.7GW added in the previous quarter and outpacing installations in 2022, while slightly behind numbers in 2021.
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Cumulative installed capacity from clean energy in the US reached 243GW, and provides 16% of the country’s electricity. During the first nine months of this year, California added the most renewable capacity with 3GW, of which 1.9GW in Q3 alone – accounting for a third of all power commissioned this quarter – followed by Texas with 2.3GW and Florida with 1.6GW added in 2023 so far.
At the end of Q3 2023, renewables project pipeline increased by 10% from the same period in 2022 to 145GW, of which nearly 60GW already under construction, while 86GW are in advanced development. The solar pipeline increased by 8% year-over-year, and continues to take the lion’s share of capacity with 58% of all clean power capacity under development.
Another fast growing market is grid-scale battery storage which has already exceeded 2022 installation numbers in only nine months, with 4.3GW/13.4GWh installed so far. For a more in-depth look at the battery storage market, you can read our sister site Energy-storage.news’ article here.
“The demand for American clean energy is undeniable,” said ACP CEO Jason Grumet. “Even as we face a number of near-term challenges, these record-breaking numbers tell us that the US clean energy sector continues to grow on a healthy, long-term trajectory.”
Despite a quarterly record install for renewables, power purchase agreements (PPAs) did not have the same enthusiasm – with prices rising in Q3 2023 after a drop in the previous quarter – as they were down 55% from the same period in 2022, with 3.1GW of PPAs announced in Q3 2023.
Solar PV accounted for 59% of all PPA announcements in Q3 2023, however numbers were down 59% YoY.
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