The unexpected increase in solar and wind power in the US will result to a decrease of coal in the next few years. Renewable energy, led by solar and wind, is foreseen to be the fastest-developing source of US electricity generation for at least the next two years, according to a report published Friday by the US Energy Department.
Kingsmill Bond, new energy strategist at Carbon Tracker reported that
Coal is just an expensive technology that can no longer compete.
Specifically, solar power is expected to rise by 10% in 2019 and 17% in 2020, according to EIA.
In addition, wind power is foreseen to increase in 2019 and 2020, by 12% and 14%, respectively.
In the meantime, coal is experiencing a serious decrease.
Although in 2010 the share of the overall power generation from coal fired power plants was 45%, in 2018 it decreased to 28%. As the US coal consumption declined by 4% in 2018, reaching the lowest vessels since 1979, the coal market in general is expected to decrease to 24% in 2020.
The decline is opposed to President Donald Trump’s promise to revive the beleaguered coal industry.
Except environmental regulations, coal has faced many challenges and barriers from cleaner energy sources and mostly from natural gas. Consequently, in 2016, natural gas surpassed coal as America’s leading fuel source for the first time.
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Also, natural gas in the US market is to rise from 35% in 2018, to 37% in 2020. In the meantime, renewables other than hydropower are projected to grow from 10% in 2018 to 13% in 2020.
Power plants decided to move away from the coal market because of economic and environment factors.
For instance, Xcel Energy (XEL), a Minneapolis-based power company that serves western and Midwestern states, announced plans last month to deliver 100% carbon-free electricity by 2050. Excel wants to double its wind power while slashing its dependence on coal.
In conclusion, households and businesses are also supporting renewable energy, as they’re installing their own solar panels to decrease their carbon footprints.
