In a major milestone for the clean energy sector, renewable energy sources contributed nearly a quarter of the nation’s electricity generation during the first ten months of 2024. According to reports from the Federal Energy Regulatory Commission (FERC) and the U.S. Energy Information Administration (EIA), the renewable energy mix—including biomass, geothermal, hydropower, solar, and wind—now represents over 30% of the nation’s utility-scale electrical generating capacity.

Solar Leads the Charge

Solar energy continues to dominate the renewable energy landscape, accounting for an impressive 91.8% of all new utility-scale capacity added in October alone. Over the first ten months of 2024, solar installations represented 79.3% of all new capacity, adding 21,425 MW to the grid—an 80.5% increase compared to the same period in 2023. Wind energy also made a notable contribution, adding 2,799 MW during that time.

The rapid expansion of solar has solidified its position as the fastest-growing energy source in the U.S. It has now surpassed nuclear and hydropower in installed capacity, making it the fourth-largest source of power generation nationwide.

Renewables on Track for Major Expansion

FERC projects that by 2027, renewables will make up approximately 37% of the nation’s total utility-scale capacity. The agency’s “high probability” forecasts indicate that an additional 93,803 MW of solar and 23,261 MW of wind will come online within the next three years, alongside smaller additions from hydropower, biomass, and geothermal sources.

If these projections hold, solar could soon become the second-largest source of electricity generation in the U.S., trailing only natural gas. With coal and oil capacity expected to decline, renewables are set to play an even larger role in shaping the country’s energy future.

Challenges and Opportunities

Despite this rapid expansion, challenges remain. Energy rate structures in many states still favor traditional power sources, and supply chain issues continue to impact growth. However, advancements in battery storage, supportive policies, and rising public demand for clean energy provide a strong foundation for continued progress.

Ken Bossong, executive director of the SUN DAY Campaign, called 2024 a banner year for renewables, particularly solar. “This year has been remarkable for renewables, particularly solar. The question now is whether this momentum will continue in 2025 amid potential policy shifts.”

Looking Ahead: What This Means for Florida Homeowners

With renewables now supplying 24.2% of U.S. electricity—and with the potential to surpass 40% by the end of the decade—the clean energy transition is in full swing. The question for Florida homeowners isn’t if solar is the future, but when to make the switch.

At Aspire Solar, we specialize in helping Central Florida homeowners take advantage of this energy shift with high-quality solar equipment, full-service installation, and long-term support for permitting and warranties. If you’re interested in learning how much solar could save you, we make it easy.

Get a free, customized solar report today—no obligation, just the facts about your home’s solar potential. Let’s make clean energy work for you.