Demand growth is a rising tide that lifts all boats, and it especially lifted renewable ones in 2024. Renewables were already buoyed by record public and private investment in, and demand for, clean energy that set the stage for continued growth in 2024. Utility-scale solar and wind capacity additions were the largest across all primary generation sources, accounting for close to 90% of all new builds and expansions in the first nine months of 2024, versus 57% of capacity added for the same period in 2023, according to Deloitte analysis of data from the Federal Energy Regulatory Commission.

Source: https://www2.deloitte.com/