Despite higher interest rates and some other headwinds, the clean energy transition is keeping up its momentum. Latest projections from the U.S. Energy Information Administration (EIA) have the share of renewables in the U.S. electricity mix steadily increasing from 22% to 24% in 2024.

Of all the major established clean electricity technologies, battery storage has the steepest growth trajectory, projected to increase by 82% compared to 2023 estimates. Solar is also going strong, projected to grow by 40%.

Key trends in clean energy for 2024. Image source: Visual Capitalist

Wind power is growing at a slower rate due to higher costs and permitting challenges, but the overall trend toward renewables in the U.S. energy portfolio is clear. Battery storage is called out specifically in the report for addressing the intermittency challenges of renewables, ultimately ensuring a reliable and emission-free power supply.