Wood Mackenzie predicts US renewables annual capacity additions to nearly triple in 10 years

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Speaking at the RE+ conference in Las Vegas, Chris Seiple, vice chairman, power and renewables for Wood Mackenzie said that with the Inflation Reduction Act (IRA) driving the economic competitiveness of renewables, annual capacity additions will nearly triple in 10 years to 110 gigawatts (GW). “The IRA has made renewables very competitive with other technologies and wholesale power prices,” said Seiple. “As a result, we are seeing a land rush for development sites and a resurgence in US manufacturing to support the renewables industry. There are still challenges that remain, but overall, low-cost renewables present a major opportunity for investment, and we project annual capacity additions in 10 years... ... More: Official Press Release Wood Mackenzie

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Wood Mackenzie, USA, renewable energy, power sector, carbon free, IRA, competitiveness, capacity addition