Over the past decade, the US has witnessed a significant shift in its energy landscape, characterized by rapid growth in wind, solar, and battery storage technologies. This transformation is driven by a combination of technological advancements, favorable policies, and a growing recognition of the need for sustainable energy solutions.
- Wind: According to our project data at Orennia, the US has ~153 gigawatts of installed wind capacity across the country. This growth is supported by a substantial pipeline of new projects, particularly in states like Texas, Iowa, and Oklahoma, which boast some of the country’s most favorable wind resources.
- Solar: Mostly due to the low cost for photovoltaic cells, solar energy has also experienced remarkable growth in the US. Currently there’s an estimated 109 gigawatts of utility-scale solar projects in operation, as of 2023.
- Storage: The recent technology surge has come from batteries, mostly lithium-ion, which has grown nearly 1000x since 2010. There was ~24 gigawatts of battery projects online in the US last year, a number expected to double this year.
Federal initiatives, such as the Inflation Reduction Act and the Bipartisan Infrastructure Law, are providing critical support for renewable energy projects, fostering innovation, and encouraging private sector investment.
Aaron Foyer is Vice President, Research and Analytics at Orennia. Prior to Orennia, he leveraged his technical background in management consulting and finance roles. He has experience across the energy landscape including clean hydrogen, renewables, biofuels, oil and gas, petrochemicals and carbon capture.
