Solar and Wind Energy on the Rise in the U.S.

In a new analysis, California, Texas, and Florida are leading the country in terms of solar power, while Texas, Iowa, and Oklahoma are leading in wind energy. Although solar and wind energy produce a comparatively small portion of power in the U.S., they are growing. 

Solar panel installations grew more than 8 times since 2014, producing nearly 240,000 gigawatt-hours of electricity in 2023. Wind generation produced about 425,000 gigawatt-hours last year, which was double that of the previous decade.

Together, these two renewable energy sources produced enough electricity to power more than 61 million average American homes. 

Recently, high interest rates, inflation, and supply chain issues have slowed some renewable energy investments. However, new major projects are still coming online. Solar and wind power generation is expected to out-pace coal-fired electricity in 2024.

Weather greatly impacts both the production and consumption of various energy sources. To effectively manage weather-related risks, energy producers and traders turn to advanced weather forecasting technologies.