Trump's America Transforming Green (Part 2)
In a significant shift for the energy sector, wind narrowly edged out coal in the first half of 2020 in Texas, marking the first time since the grid operator began tracking the fuel mix in 2003. This transition is driven by increasing investments in solar and wind power, state policies promoting renewable energy, and growing economic opportunities in clean energy sectors.
Across the southeastern U.S. states, the green energy revolution is gathering pace. PacifiCorp, a utility serving over 1.8 million customers across much of the western U.S., plans to install over 7,100 MW of solar, wind, and storage by 2025. In line with this commitment, PacifiCorp plans to close at least 20 of its 24 coal plants. This decision is expected to drastically reduce the utility's annual CO2 emissions, which will plummet from 40 million tons in 2019 to 18 million by 2038 - a decrease of roughly 60% from baseline 2005 levels. By 2049, renewables are expected to displace enough coal to reduce emissions to only 6 million tons/year for PacifiCorp, a 95% drop compared to 2005 levels.
The Federal Energy Regulatory Commission (FERC) predicts major declines for all fossil fuels (and nuclear) as renewables aggressively deploy nationwide through 2022. FERC anticipates that utility-scale solar, increasingly mated with batteries, will add some 18 GW of capacity nationwide through 2022. The average cost for power generated from onshore wind farms has fallen to 6 cents per kilowatt-hour (k/h) in 2018 across most of the world. Some wind and solar projects could be down to 3 cents k/h or less by 2020.
The U.S. Energy Information Administration (EIA) projects wind power as the fastest growing source of electricity, with a projected growth of 6% this year and 14% in 2020. In Texas, wind has become the country's largest producer, generating over one-fifth of the national total. Wind now generates roughly 7% of overall U.S. electricity generation. Despite President Trump's efforts to support the coal industry, wind power is increasingly powering the United States, with wind alone set to grow by more than double its current capacity in 2020.
A new study by the Rocky Mountain Institute (RMI) predicts that self-reinforcing feedback loops will accelerate battery performance and reduce costs, speeding the global energy transition. The study also anticipates that battery performance will be accelerated while costs will be pushed down to around $87/kWh by 2025. Venture-capital firms contributed over $1.4 billion to energy storage technology companies in the first half of 2019 alone.
In 2008, the annual total of new solar PV capacity installed across the U.S. was just 290 MW. But last year, installations nationally topped over 10.6 Gigawatts, a 35-fold increase. This growth in renewable energy is not just a local phenomenon; it's a global shift towards a cleaner, greener future. As renewables become so cheap that coal is being phased out, wind and solar power are set to compete head to head with fracked fossil gas for the future.
Read also:
- Unveiling the Less-Discussed Disadvantages of Buds - Revealing the Silent Story
- Grid Risk Evaluation Strategy By NERC Outlined, Focusing on Potential Threats from Data Centers
- Kenya broadens economic zones featuring Olkaria's geothermal energy advantage
- Nutritional Healthcare: Linking Patients with Crucial Nourishment Through Medical Professionals
){kind=link}