Nuclear power had the highest capacity factor among energy sources in the United States, at over 93 percent in 2023. Geothermal energy-generating facilities followed and had the largest capacity factor among renewable sources at 70 percent. In contrast, natural gas and petroleum ranked the lowest.
Cost of nuclear power in the United States
Despite the large capacity factor, nuclear power plants had one of the highest levelized costs of electricity in the country. The operating expenses of nuclear utilities in the U.S. are nearly 50 percent lower than those of fossil fuel power plants, indicating higher capital expenditure for these facilities.
Capacity factor of renewable energy plants
Excluding geothermal energy, the capacity factor of renewable energy plants in the U.S. was 34 percent for hydropower and wind energy and 23 percent for solar photovoltaic and solar thermal. According to global market data, the capacity factor of offshore wind power worldwide was at 40 percent, while the one of utility-scale solar PV was at approximately 17 percent.
Capacity factors for selected energy sources in the United States in 2023
*Values for battery and pumped storage refer to usage factors, i.e. the ratio between gross generation with available capacity. It contrasts to the other sources, which consider net generation.
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EIA. (April 24, 2024). Capacity factors for selected energy sources in the United States in 2023 [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/183680/us-average-capacity-factors-by-selected-energy-source-since-1998/
EIA. "Capacity factors for selected energy sources in the United States in 2023." Chart. April 24, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/183680/us-average-capacity-factors-by-selected-energy-source-since-1998/
EIA. (2024). Capacity factors for selected energy sources in the United States in 2023. Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/183680/us-average-capacity-factors-by-selected-energy-source-since-1998/
EIA. "Capacity Factors for Selected Energy Sources in The United States in 2023." Statista, Statista Inc., 24 Apr 2024, https://www.statista.com/statistics/183680/us-average-capacity-factors-by-selected-energy-source-since-1998/
EIA, Capacity factors for selected energy sources in the United States in 2023 Statista, https://www.statista.com/statistics/183680/us-average-capacity-factors-by-selected-energy-source-since-1998/ (last visited October 31, 2024)
Capacity factors for selected energy sources in the United States in 2023 [Graph], EIA, April 24, 2024. [Online]. Available: https://www.statista.com/statistics/183680/us-average-capacity-factors-by-selected-energy-source-since-1998/