Research and Markets has announced the addition of Green Energy in the US: Renewable Investment, Capacity Growth and Future Outlook to their offering. The future of power generation in the US is at an interesting cross-road. On the one hand, cheap generation technologies such as coal and natural gas fired plants are well positioned to dominate future power generation if the current legislative and regulatory environments persist.
Some key findings from this report...
- Electricity generation in the US is dominated by coal. During 2006, 48.9% of the total US electric power was generated at coal-fired plants.
- Renewable sources contributed approximately 9.5% to US total electric generation in 2006, generating 385.0bn kWh of electricity.
- Wind was the fastest growing source of power generation in the US during 2006.
- US electricity consumption is projected to increase by only 1.5% per year between 2005 and 2030 according to EIA. It forecasts that coal will continue to dominate power generation with a share of 57.0% in 2030 and that renewables will contribute only 9.0% in that year.
- The outlook for renewables in the US is dependent on the course of future federal and state legislations. Legislation that introduces an effective cap and trade system, by placing a price on carbon emission, could enhance the growth of renewable energy by making it more competitive with conventional sources.