Energyear USA 2024 has kicked off in the city of Houston, marking a key milestone in the renewable energy sector in the United States. The event features international ists and experts to discuss the country’s energy transition, set against a backdrop where 2024 is expected to be the second consecutive year of record capacity for clean energy. To date, 19 GW of new capacity has been installed, more than double the average of the last five years. z1o62

With the year coming to a close, the second half—traditionally stronger in new installations—is anticipated to consolidate these achievements, further driving the growth of renewable energy in the country.
Additionally, Energyear US 2024 has opened its doors at the Sheraton North Houston at George Bush Intercontinental, bringing together the value chain of renewable energies and becoming a key platform for discussing advancements in the US energy transition.

This includes notable achievements in the energy storage sector, which has celebrated an important milestone by suring 20 GW of operational capacity. The growth of the clean energy portfolio in the US, also has increased by 13% compared to the previous year, with significant expansions expected in offshore wind energy, boasting over 4 GW of capacity under construction. As for onshore wind energy, the volume in construction has grown to 14 GW, underscoring a robust recovery in this key sector, according to data from the quarterly report by the American Clean Power Association (A).

Experts who participated in the “Energizing the USA Future: Renewable Energies - Indispensable Pillars of the U.S. Energy Decarbonization,” moderated by Juan Agudelo, Head of Energy Transition at Welligence Energy Analytics, shared their analyses on the current state and future prospects of the renewable energy sector. The brought together leaders from various organizations to discuss the challenges and opportunities that lie ahead in the quest for a decarbonized energy landscape in the United States.

David Salvo, CEO of Power Electronics, highlights the growing challenges in interconnection, delivery times, and permitting within the renewable energy sector. He emphasizes that storage technology is becoming increasingly vital. "Before, we focused on inverters, but now also we produce more storage than anticipated," he states. The impact of COVID-19 has shifted perspectives, especially in states like California, where controlling the grid has become more difficult without adequate storage solutions.

He notes that as the percentage of renewables in the grid increases, so do the complexities and problems. Salvo asserts that technology, particularly in inverters, is critical for both photovoltaics and storage. "I don’t see solar or wind without storage in the next 5-10 years." Despite these challenges, he sees immense opportunities, stating, "We are commissioning during the last quarter of 2024 around 2,100 inverters for more than 8 GW, a task that used to take over a year. This is becoming less complex, faster, and easier to advance in the industry."

Meanwhile, Leonardo Sancho s, President & CEO of Elecnor Hawkeye, discusses the complexity of energy transition, particularly concerning grid connection and the shift from centralized to decentralized generation. He identifies supply chain issues and the need for critical materials as significant challenges but views them as opportunities for growth in the industry. "To truly capitalize on this renewable boom, we need to coordinate efforts to retrain the workforce," he notes.

Sancho s points out that the Northeast presents a significant opportunity for renewable energy. He emphasizes the importance of integrating land-based wind and ensuring that the necessary transmission infrastructure is developed to these initiatives. "We need to address these aspects to harness the full potential of renewable energy in the region," he adds.

Call for innovation

Michael Kraft, Sr. Vice President Corporate Development at RRC Companies, observes that government projections for renewable capacity have consistently underestimated the installed capacities of solar, wind, and storage over the past 15 years. He points out that these technologies are now the primary focus for energy generation in 2024, even though challenges persist, such as labor shortages, equipment availability, permitting, and transmission issues. "There’s a significant amount of capital flowing into the market for innovation," Kraft asserts.

He believes in the importance of ing companies in this aspect, rather than relying solely on universities. Kraft acknowledges that the younger generation is driving innovation and has the potential to transform the industry. However, he also warns that projects can be derailed by insurance costs, indicating a need for financial solutions to mitigate these risks.

In addition, Andy Roehr, Managing Director of Baker Tilly Advisory Group, LP, identifies the pressing need for technical expertise within the renewable energy sector, emphasizing the importance of specialized knowledge over traditional backgrounds in finance or banking. He acknowledges that while renewables offer a solution, their intermittent nature necessitates robust storage technologies. "The next generation of technology is essential to sustain energy addition, not just transition," he states.

Roehr calls for ongoing investment in innovation, describing the efforts in universities and institutions as "inspirational." However, he cautions against developing renewables without considering long-term asset life and financial viability, advocating for intelligent decision-making. He also addresses the specific challenges facing wind power in various regions, emphasizing the need for serious discussions about fundamental costs and the value of decarbonization. "The conversation about the importance of this technology is crucial; it’s not as costly as perceived," he concludes, highlighting the distinctions between the U.S. and European wind industries.

Impact of natural disasters on renewable energy

The leaders shared their perspectives on the challenges posed by natural disasters and how they affect the renewable energy industry. Salvo notes that natural disasters, such as storms, can significantly impact energy infrastructure. "They put power down with major impacts, and managing this has become more problematic in the past," he explains. However, with advancements in energy storage, there is now better backup to handle these situations.

Moreover, Sancho s emphasizes the unpredictability of storms, indicating that utilities must think cost-effectively while maintaining government to enhance grid resilience. "As storms become more unpredictable, we need a robust plan to ensure the grid can withstand these challenges," he asserts.

 In addition, Kraft points out that extreme weather can derail projects and lead to increased insurance costs, highlighting the need for financial solutions that renewable energy initiatives amidst these challenges. "Projects get killed by insurance costs, and we must find a way to mitigate this issue," he warns.

Finally, Roehr stresses the importance of understanding how to electrify while managing the intermittency of renewable sources. He highlights that next-generation technology is vital for maintaining energy addition. "We need to address these challenges intelligently, especially as we consider the impact of weather on project development," he concludes.