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Your position: Home > News > Industry News > US coal-fired power market share will fall to 24% by 2020

US coal-fired power market share will fall to 24% by 2020

the Internet 2019-01-23 09:39:27

The next few years, the United StatesSolar energyThe booming development of wind power will bring new blows to the coal industry. According to a report released by the US Department of Energy on Friday, solar and wind-driven renewable energy is expected to become the fastest-growing US power generation source for at least the next two years.

EIA, the Energy Information Administration, said that utility-scale solar power is expected to grow 10% in 2019 and 17% in 2020, driven by rapid price declines. During the same period, windPower generationThe volume is expected to increase by 12% and 14%, respectively, while the coal of the power industry continues to decline rapidly.

According to EIA, the proportion of total power generation in coal-fired power plants fell to 28% last year, compared to 45% in 2010. By 2020, the market share of coal is expected to drop to 24%. US coal consumption fell by about 4% in 2018, to its lowest level since 1979.

“Coal is just an expensive technology that can no longer compete,” said Carbon Tracker's new energy strategist, Kingsmill Bond.

Although President Donald Trump is committed to revitalizing the troubled coal industry. Last month, the Trump administration announced plans to reverse the coal emissions rules of the Obama era in order to make it easier to open new factories.

But in addition to environmental regulations, coal is also affected by the intense competition for clean energy, especially natural gas. Due to the shale revolution, the United States has a lot of cheap natural gas. In 2016, natural gas surpassed coal for the first time as the most important source of fuel in the United States.

According to EIA, the share of natural gas in the US electricity market is expected to increase from 35% in 2018 to 37% in 2020. Renewable energy sources other than hydropower are expected to grow from 10% in 2018 to 13% in 2020.

Power plants will continue to stay away from coal due to the economy and concerns about climate change. EIA previously said that 2018 may be the second largest year for coal-fired power plants to retire. For example, Xcel Energy (XEL), which serves Western and Midwestern states, announced last month that it plans to provide 100% carbon-free electricity by 2050. Xcel hopes to double its wind power while reducing its dependence on coal.

Homes and businesses are also installing their own solar panels to reduce their carbon footprint. The EIA said it expects small-scale solar power generation to soar by 44% in the next two years.

At the same time, big companies are increasingly looking to buy more clean energy. For example, Enel Green Power North America reached an agreement last year to provide wind power to Bloomberg, General Motors (GM), Facebook (FB) and Adobe (ADBE). Earlier this month, Enel announced plans to build a $600 million wind farm in Texas as part of the Italian energy giant Enel Group. Relying on renewable energy instead of fossil fuels, Enel said wind farms can reduce carbon dioxide emissions by more than 1.1 million tons per year.

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