Renewable energy sources are on their track to become 30% of the U.S. energy mix by 2025, according to a new review of the Sun Day Campaign, of data just released by the Federal Energy Regulatory Commission (FERC).
Firstly, according to FERC, renewables strongly dominated the new energy add-ons to the U.S. total mix in 2020. Combined, the accounted for 22,451 megawatts of new power capacity of the total 28,751 MW newly added during last year.
Secondly, wind and solar accounted for the most newly added capacity; solar with 8,543 MW and Wind with 13,626 MW. In contrast, natural gas accounted for 6,259 MW. Consequently, coal had a very little contribution with 30 MW; also, oil with 6 MW, and finally “other” sources with 5 MW.
In addition, wind was the absolute dominant with 5,004 MW of capacity added during December, alone; wind accounted for almost half of the new capacity of last year, with 47,39% of the total mix. On the other hand, solar accounted for 29,71%.
“Renewable energy sources now account for 24.06% of the nation’s total available installed generating capacity”, the statement reads. Therefore, renewables maintain its leading role over coal, with 19,65% of the total mix; nuclear, 8,57%. Wind alone almost accounts for the tenth of the U.S. total mix, with 9,38%, while solar and wind combined also represent 14,15% of the total mix.
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Renewables on track to increase substantially over the next 3 years: FERC
In contrast, ten years ago FERC reported that renewable energy capacity was at 13,71% of the total mix. Five years later, it accounted for 17,83%. According to FERC, with this pace, renewables will exceed 30% of the total available capacity by 2025.
“In fact, FERC data suggest that renewables’ share of generating capacity is on track to increase significantly over the next three years,” the statement explains. It foresees a projected net increase of wind capacity of 21,938 MW; while solar will increase 36,691 MW.
On the other hand, generating capacities of coal and oil are expected to plunge by 24,024 MW and 4,369 MW respectively. “In fact, FERC reports no new coal capacity in the pipeline over the next three years and just 5 MW of new oil-based capacity,” the statement concludes.
Finally, in FERC’s predictions are accurate, over the next three years renewables will account for more than a quarter of the nation’s total installed capacity.