top of page
The Bagel logo
  • Ryan Wittler

More than Half of the U.S. Electricity Supply Could Come From Carbon-free Sources By 2027


Getty


A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) shows surging global energy prices are accelerating the already rapid pace of growth in solar, wind, and battery storage projects.


Report highlights:


The U.S. 2022 Power Sector Outlook predicts that wind, solar, and hydro power will account for 33% of the entire U.S. electricity supply by the end of 2026, up from the 30% the IEEFA projected in its 2021 outlook.

  • Combined with current nuclear generation levels, the report found that over half of the entire U.S. supply could come from carbon-free sources by 2027.


The report highlights several developments that are adding to the growth of renewable sources. Among them are:

  • The construction of the first two commercial-scale off-shore wind farms in the U.S. off the coasts of New York and New Jersey.

  • Major utilities that traditionally rely on coal planning shifts to renewables by 2035, including Georgia Power and the Tennessee Valley Authority.

  • Gas-fired electricity generation has apparently peaked in the U.S. and is being displaced by solar and wind output.


What’s behind it:


The IEEFA says fossil fuel price volatility and energy security concerns are among the most pressing for policymakers, pushing the energy transition “even more strongly toward renewables and battery storage.”


Going forward:


Two report identifies two major developments to watch going forward: green hydrogen’s potential to aid the transition away from fossil fuels and the potential for electric vehicles to be a grid resource, rather than just additional demand.





Bagel HQ, Los Angeles, CA

Contact: business@readthebagel.com

bottom of page