The good news just keeps coming in for renewable energy! With the U.S. making stronger efforts to reduce pollution and implement new forms of alternative energy, there has been a steady power shift in relation to energy usage. This past April was a milestone for renewable energy, and the total generating capacity of renewable energy amounted to 21.56%, while coal’s capacity dropped from 23.04% to 21.55%. This shows that a significant change is on the horizon as renewable energy is becoming more popular than coal. Natural gas, as well as renewable energy, are taking more and more market share at the expense of coal. Let’s take a deeper look at this development.
Coal is Cooling Down
With data released by the Federal Energy Regulatory Commission (FERC), the trend becomes crystal clear. Coal is on the way out, while renewable energy and natural gas are on the way in. Additional statistics presented by FERC suggest that additional units for coal added were only two units, while solar, wind and natural gas combined amounted to over 3,000 unit additions.
Regarding retirements of units, coal unit retirements amounted to 50 units while solar, wind, and water combined only amounted to 21 units retired. Finally, the high probability of units to be added for coal amounted to 2 units while solar, wind, and natural gas amounted to over 55,000 units. This certainly backs up the notion that coal is on the way out and renewable energy is taking over slowly but surely.
Renewable Energy is Taking Over
While capacity does not translate in actual generation of energy, the trend shows that over time, renewable energy will overtake coal in both capacity and energy generation. Currently, coal contributes to 21.55% of total generating capacity, while wind, solar and water combined contribute to roughly 19% of total generating capacity. But with the predicted data from FERC, it can be inferred that renewable energies will overtake coal sooner than later. Natural gas is the number one contributor to total generating capacity with 44.44%. Natural gas will hold the number one spot for quite some time.
At Intersect Energy, we provide our clients with the highest quality service to help them lower their business’s impact on the environment while increasing the efficiency and effectiveness of their respective businesses. We offer a wide variety of renewable energy installations/services such as wind and solar. As renewable energy continues to increase in popularity, we are here to help our customers transition to renewable and sustainable energy sources. Contact us today if you have any questions or inquiries regarding renewable energies. We look forward to hearing from you!