Key Takeaways
- North America saw the installation of 214 utility-scale energy projects in 2024, with more than half involving renewable sources like wind and solar.
- The U.S. emerged as the leading LNG exporter, while Canada expanded oil capacity and Mexico invested in green hydrogen projects.
- Despite advancements in renewables, the region remains reliant on fossil fuels, complicating climate commitments and energy transitions.
North America’s Energy Landscape: A Complex Coexistence
In 2024, North America installed 214 utility-scale energy facilities, with wind, solar, and storage accounts for more than half. Despite this growth in renewables, fossil fuel production continues to thrive, indicating a dual pursuit of energy solutions. “This isn’t a transition, it’s a coexistence,” stated Rebecca Groundwater, head of external affairs at the Energy Industries Council (EIC). Governments are aggressively scaling renewable energy to meet climate pledges while simultaneously ramping up fossil fuel output to mitigate economic and geopolitical risks.
Solar energy led the renewable surge, achieving 100 GW of capacity across North America. The largest project, Nevada’s 690 MW Gemini Solar-Plus-Storage, began operations in July 2024, combining solar panels with a 380 MW battery system. On the wind front, while it remains the primary renewable source with 214 GW capacity, new installations declined by 35% as developers focused on updating aging turbines.
Fossil fuel reliance persists robustly, with the U.S. becoming the top LNG exporter worldwide, shipping 11.9 billion cubic feet per day—a 27% increase from 2023. Canada recently completed the Trans Mountain Pipeline expansion, tripling its oil sands crude capacity to 890,000 barrels per day. In Mexico, the state-owned PEMEX launched the Dos Bocas refinery, projected to produce 340,000 barrels per day, despite facing opposition from environmental activists.
The report highlights how North America’s energy strategies are reshaping global alliances. U.S. LNG exports have reduced Europe’s reliance on Russian energy, while Canadian efforts are supplying critical minerals for electric vehicle batteries amid ongoing U.S.-China trade tensions. Mexico is making significant investments in green hydrogen, notably with the 1.2 GW Helax-Isthmus facility, aiming for substantial green ammonia production.
Nuclear power is also experiencing a resurgence, driven by rising energy demands and political shifts. Following the U.S. ban on Russian uranium imports in March 2024, utilities are re-establishing domestic nuclear fuel production. New projects, such as Ontario Power Generation’s 300 MW small modular reactor at its Darlington site, are expected by 2028, while the Palisades plant in Michigan is set to reopen to support energy-intensive data centers.
Despite these developments, the report warns that North America is not on track to meet its 2030 emissions targets. Methane leaks from oil fields, combined with the emissions from oil sands, negate gains made by solar farms. Clean energy job growth is also lagging behind fossil fuel employment, highlighting the complexities and challenges facing the region’s transition to a sustainable energy future.
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