Thursday, 19 July 2018
Latest news
Main » Solar Power Will Kill Coal Faster Than You Think

Solar Power Will Kill Coal Faster Than You Think

20 June 2017

Ten percent of all of the electricity generated in the U.S.in March came from wind and solar power, marking the first such milestone in U.S. history, according to a new U.S. Energy Information Administration report.

"The greening of the world's electricity system is unstoppable, thanks to rapidly falling costs for solar and wind power, and a growing role for batteries, including those in electric vehicles", said BNEF analyst Seb Henbest, the report's lead author. Spring usually marks a period of low electricity demand. Solar energy has seasonal swings, but with more installations being completed every month and the summer months being the highest generation, we can expect more records for solar generation as April, May, and June data is reported.

Coal-fired power generation in the United States is expected to fall by 51 percent by 2040, with a 169 percent increase in renewable power helping to fill the void.

More news: Jaguar Land Rover to hire 5000 new staff

In Iowa, 37 percent of the electricity comes from wind alone all year around. But with that plan's future in doubt, natural gas and coal will likely remain the number one and number two energy sources for the foreseeable future.

Coal India, which accounts for over 80 per cent of the India's coal production, produced an average of 1.42 tonnes of coal per day in June past year.

Renewables are taking off in the rest of the world as well.

More news: Bank of England chief downplays chance of interest rate hike

"Other factors - such as rapid growth in newer energy technologies (whose costs have declined significantly in recent years), and state policies and consumers' actions that support such technologies - also contribute to reducing the profitability of less economic assets", reads the report's executive summary. ISS also sells electricity at cut rate prices to Corporate America through corporate Purchase Power Agreements (PPA's).

Tim Buckley, Director of the Institute for Energy Economics and Financial Analysis (IEEFA), said: "For the first time, solar is cheaper than coal in India and the implications this has for transforming global energy markets are profound".

According to Ian Johnston at The Independent, renewable energy is on the rise.

More news: Mother of 4 killed by officers was wielding knife