The agency now anticipates the US to install 19.4 GW of wind and 12.6 GW of utility-scale solar capacity in 2020, down by 5% and 10%, respectively, from its previous Short-Term Energy Outlook (STEO). Renewables will remain the fastest-growing source of electricity generation for the year
April 08, 2020. By News Bureau
The US Energy Information Administration (EIA) has announced that it has trimmed its projection for wind and solar capacity additions this year because of the coronavirus outbreak and the consequential economic slowdown.
The agency now anticipates the US to install 19.4 GW of wind and 12.6 GW of utility-scale solar capacity in 2020, down by 5% and 10%, respectively, from its previous Short-Term Energy Outlook (STEO). Renewables will remain the fastest growing source of electricity generation for the year.
EIA also believes a 3% decrease in electric power sector generation in the US. The output of coal-fired power plants is seen to drop by 20% from 2019, while renewable power and natural gas power will increase by 11% and 1%, respectively.
Sales of electricity this year in the commercial sector and to the industrial sector are expected to decline by 4.7% and 4.2%, respectively. In the residential sector, consumption of electricity is growing because of the stay-at-home orders, but this will not be able to fully offset the mild winter and summer weather. Residential electricity sales will decrease by just 0.8% in 2020 under the updated STEO.
The total consumption of coal is forecast to fall by 19%, mainly due to the reduced power demand. Coal exports are also on the slide as the economic slowdown has affected demand from Europe.
EIA now expects energy-related carbon dioxide (CO2) emissions to be down by 7.5% in 2020 due to the slowing economy and restrictions on business and travel activity. In 2021, however, energy-related emissions are forecast to inch up by 3.6%.
AI will move from being a good-to-have technology to a must-have technology
We Need to Create Employment Opportunities that would Inspire Women to Join Clean Energy Space
There Must be a Penal Mechanism on Discoms for Delay in Signing PPAs, Payments Release
India’s Power Sector Must be Financially, Physically Resilient to Secure Investments it Needs