The U.S. is on the path to cutting out coal completely as the cost of renewable energy falls and the push for carbon-free power picks up steam. A new report from global wealth management company Morgan Stanley projects coal-fired power generation is likely to disappear from the U.S. power grid by 2033 and will largely be replaced by renewable energy resources. To learn more, read “Renewables expected to replace coal by 2033, says Morgan Stanley.”
- The report from Morgan Stanley said renewable energy such as solar and wind power will provide about 39 percent of U.S. electricity by 2030 and as much as 55 percent in 2035.
- Coal has experienced a steady decline in power generation due to sustained low prices for natural gas.
- In 2010, coal supplied 46 percent of U.S. electricity, compared with an approximate 20 percent share just a decade later.
- The share of electricity supplied by natural gas-fired power plants increased from 23 percent in 2010 to an estimated 39 percent last year.
- The projection from Morgan Stanley comes as the Biden administration is aiming to make the U.S. carbon neutral by 2050, which will require steep reductions in greenhouse emissions and investments in renewables like solar and wind.
Path to 100% Perspective:
Rapidly reducing the use of fossil fuels is a big step on the journey to 100% clean energy. However, as reliance on fossil fuels declines, integration of renewable fuels and renewable generation must increase to ensure reliability and sustainability in power grids. This transition includes efforts to promote policies that enable rapid reductions in fossil fuel use and rapid increases in renewable generation in the electricity sector. These commitments will also steer electricity-sector decisions about investments, infrastructure, and technology toward decisions that quickly reduce greenhouse gas emissions and pave the way for a 100% renewable energy future
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