Electric utilities will invest more than $1.1T by
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Posted On: 07/26/2025 8:27:07 AM
Electric utilities will invest more than $1.1T by 2030 to meet demand growth: EEI
Utilities are working to quickly bring new generation online, with the bulk of it being renewable. But in recent months there has been a shift towards proposing new gas capacity to power data centers.
The sector brought 52 GW of new generating capacity online in 2024, 11% more than the 46.8 GW in 2023 and 48% more than the 35 GW in 2022, according to the report.
“The increase from 2023 to 2024 was primarily due to additional solar and storage capacity,” EEI said. “Solar capacity installations increased 63% to 32,486 MW in 2024, the fastest annual growth since 2020.”
Energy storage additions increased 54% to 11,534 MW in 2024, EEI said. New gas capacity brought online decreased 79% to 2,428 MW in 2024, “marking natural gas’s lowest increase since 2020,” the report said. “Wind capacity additions also decreased,” from 6,343 MW in 2023 to 4,132 MW in 2024, “indicating a maturing technology after decades of rapid growth.”
https://www.utilitydive.com/news/electric-uti...wt/753783/
icymi
Utilities are working to quickly bring new generation online, with the bulk of it being renewable. But in recent months there has been a shift towards proposing new gas capacity to power data centers.
The sector brought 52 GW of new generating capacity online in 2024, 11% more than the 46.8 GW in 2023 and 48% more than the 35 GW in 2022, according to the report.
“The increase from 2023 to 2024 was primarily due to additional solar and storage capacity,” EEI said. “Solar capacity installations increased 63% to 32,486 MW in 2024, the fastest annual growth since 2020.”
Energy storage additions increased 54% to 11,534 MW in 2024, EEI said. New gas capacity brought online decreased 79% to 2,428 MW in 2024, “marking natural gas’s lowest increase since 2020,” the report said. “Wind capacity additions also decreased,” from 6,343 MW in 2023 to 4,132 MW in 2024, “indicating a maturing technology after decades of rapid growth.”
https://www.utilitydive.com/news/electric-uti...wt/753783/
icymi
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