REM: US is developing enough wind, solar to reach net-zero target in 2050

A new report by Climate Central finds that America’s capacity to generate carbon-free energy from solar and wind power grew dramatically during 2022.

The capacity to generate electricity from solar and wind increased across the country to more than 238 GW in 2022 – up nearly 13 GW from 2021. The US generated 683.1 TWh of electricity from solar (27%) and wind (73%) combined in 2022 – up 16% from 588.5 TWh in 2021.

The electricity generated from solar and wind in 2022 is enough to power the equivalent of 64mn average American households. The United States' renewable energy sector is the second-largest in the world after China.

At the average retail price of 12 cents per kWh in 2022 (as reported by the US Energy Information Administration (EIA)), this equates to $82bn of revenue generation, said Climate Central. Solar power produced around 183.3 TWh in 2022 ($22bn), and wind power produced around 499.9 TWh in 2022 ($60bn).

The growth in capacity and generation for solar and wind suggests that America’s ability to produce electricity from sunlight and wind can grow fast enough to support net-zero carbon emissions targets in the US by 2050, said the non-profit organisation.