Jan 17, 2025 1:06:11 PM

Vulcan Expands Coverage to 170 GW: Insights on Proposed Projects and 2025 Outlook

Following the significant increase in proposed projects noted in last week's research, we have expanded Vulcan's coverage to encompass nearly 80% of the proposed projects in the EIA-860M, totaling over 170 GW. Individually ERCOT, PJM, and MISO coverage are also very close to 80%. The charts below illustrate the remaining non-coverage projects, which currently stand at 54 GW (24%). Recent winter storms have resulted in high cloud coverage in the northeast, leading to a "Not Observed" status for 9 GW of projects. We will continue to monitor these sites weekly, and we expect the "Not Observed" figure to gradually approach zero.

By year our coverage is relatively consistent, around 80%.

The non-coverage primarily comprises smaller projects, particularly batteries and solar.

Last week's update confirmed 6 GW of projects, including one identified 150 MW battery project in ERCOT.

Vulcan's new build outlook for 2025 has slightly increased compared to last week's projection, reflecting the confirmation of these projects, with a stronger emphasis on 2025 construction. However, our 2025 outlook (56 GW) remains below the EIA's projection of 62 GW.

Vulcan clients can access the detailed table via API or Excel download. This data includes sufficient information to map to your existing genstack, enabling the easy creation of customized buildout scenarios.

Vulcan UC Project Highlight:

66303 Upton BESS 2 – Battery, Hidalgo County TX, 150 MW, Proposed Online 12/2026, Vulcan Earliest Online 8/9/2025, Vulcan Latest Online 2/10/2026

1/11/2025 Vulcan Identified 12/8/2024