Tag Archives: Solar Energy

Solar Needs to Quadruple for U.S. to Have Carbon-Free Grid

At-a-Glance:

The U.S. would need to quadruple the amount of solar energy it installs by 2035 if it wants to achieve a goal of decarbonizing the nation’s power grid, the Energy Department said in a study released in September 2021. According to the study, solar energy has the potential to power 40% of the nation’s electricity and employ as many as 1.5 million people by 2035. To learn more, read, “Solar Needs to Quadruple for U.S. to Have Carbon-Free Grid.” Reading this article may require a subscription from the media outlet.

Key Takeaways:

  • In 2020, the U.S. installed a record 15 gigawatts of solar power bringing the total to 76 gigawatts or 3% of the nation’s electricity supply.
  • The study, which was conducted by the agency’s National Renewable Energy Laboratory (NREL), found that by 2035, the U.S. would need to provide 1,000 gigawatts of solar power to achieve a 95% emission-free grid.
    • Decarbonizing the grid would require as much as 3,000 gigawatts of solar by 2050, the study said.
  • The study comes as the President called for a 100% clean energy grid by 2035 and a 50% economy-wide reduction in carbon emissions by 2030 as part of an effort to combat climate change.

Path to 100% Perspective: 

It is the job of every power company to now put strategies and capital in place to navigate to net zero and to embed flexibility at the heart of grids to unlock 100% renewable energy systems. As the current population emerges from the COVID-19 pandemic, governments can lay the foundations for a smoother transition to a decarbonized world. To achieve this, utilities must commit to front-loading their efforts and investment strategies. Not only will this unlock a wealth of new commercial opportunities in a transformed power market, but the future of the planet and it’s population depends on it.

Photo by American Public Power Association on Unsplash

NextEra Now More Valuable Than Exxon as Clean Power Eclipses Oil

At-a-Glance:

NextEra Energy Inc., the world’s biggest provider of wind and solar energy, is now more valuable than oil giant Exxon Mobil Corp., once the largest public company on Earth. NextEra ended Wednesday, October 7, with a market value of $145 billion, topping Exxon’s $142 billion. The oil major’s U.S. rival, Chevron Corp., also surpassed it in value for the first time. To learn more, read “NextEra Now More Valuable Than Exxon as Clean Power Eclipses Oil.” (Reading this article requires a subscription.)

Key Takeaways:

  • NextEra has emerged as the world’s most valuable utility, largely by betting big on renewables, especially wind.
  • NextEra had about 18 gigawatts of wind and solar farms at the end of last year, enough to power 13.5 million homes. And it’s expanding significantly, with contracts to add another 12 gigawatts of renewables. Its shares have surged more than 20% this year.
  • At the same time, Exxon’s shares have tumbled more than 50% as the pandemic quashed global demand for fuels. The company’s second-quarter loss was its worst of the modern era and, in August, Exxon was ejected from the Dow Jones Industrial Average.
  • The company was worth $525 billion in 2007, more than three times its current value.

Path to 100% Perspective:

The global economic shift away from fossil fuels continues to become more evident as more public commitments are being announced and financial milestones such as this one are making history. However, continued efforts to reach renewable energy goals are still being monitored worldwide as organizations and governments are piecing together innovative solutions and strategic partnerships designed to pave a path to a renewable energy future.

 

Photo: Gustavo Quepón on Unsplash

Top Solar States Per Capita 2012 vs. 2020 — CleanTechnica Report

At-a-Glance:

CleanTechnica has developed a new report on the top solar power states per capita, by comparing the results from the first half of 2020 with the results from 2012. Also note that this report does not include all 50 states, unlike the previous one, because the data back in 2012 didn’t include all 50 states. It just included the top 25 states in terms of overall solar power capacity. For the full 2020 ranking, see this report. To learn more, read “Top Solar States Per Capita 2012 vs. 2020 — CleanTechnica Report.”

Key Takeaways:

  • Two things to note in the two charts. First, how much solar power capacity per capita has increased in each of these states. Secondly, how the rankings have shifted around.
    • Nevada rose from #3 in 2012 to #1 in 2020
    • California rose from #6 in 2012 to #3 in 2020
    • North Carolina rose from #11 in 2012 to #5 in 2020
  • The US Solar Energy Industries Association (SEIA) has some interesting “quick facts” on each state in the country. Below are a few comparative highlights:
    • California-first in the nation
      • Total Solar Investment in State: $68,148.93 million.
      • Solar Companies in State: 2,006
    • North Carolina-second in the nation
      • Total Solar Investment in State: $8,999.31 million.
      • Solar Companies in State: 216
    • Arizona-fifth in the nation
      • Total Solar Investment in State: $12,772.41 million.
      • Solar Companies in State: 307
  • North Carolina jumped up the charts from #7 to #2. New Jersey had almost the opposite result, dropping from #3 to #7.

Path to 100% Perspective:

These future power systems will need four cornerstones to maintain reliable power in the clean power system of the future. The “Generation Cornerstone” is foundational to a 100% renewable future when wind and solar farms will generate most electricity. The “Constant Balance Cornerstone” keeps power flows on the grid balanced, minute by minute by collecting excess power in short-term battery-style energy storage with typical durations of one hour or less that continuously charge and discharge as needed to supply constant, reliable power. The “Daily Shift Cornerstone” ensures the lights stay on by shifting overbuilt renewable power during the day to meet load and charge storage, and discharging that stored energy at other times of the day when it’s needed. The “Reliability Cornerstone” ensures system reliability by using flexible generation to make up the difference.

 

Photo by Chelsea on Unsplash