March 7, 2022

Power plant developers and operators expect to add 85 gigawatts (GW) of new generating capacity to the U.S. power grid from 2022 to 2023, 60% (51 GW) of which will be made up of solar power and battery storage projects, according to data reported in our Preliminary Monthly Electric Generator Inventory. In many cases, projects combine these technologies.

Battery storage capacity, as well as renewable capacity, significantly increased in the United States during 2021, partly because of tax credits and partly because of falling technology costs, especially for batteries. Depending on the configuration and charging sources, both solar power and battery storage units may be eligible for the solar investment tax credit (ITC), which i