A new report issued by the Federal Energy Regulatory Commission (FERC) indicates that, for the first time in US history, renewable energy capacity has surpassed coal.
The renewable sector’s rapid expansion has coincided with a marked decline in coal-fueled generation. According to the EIA, more than half of American coal mines operating in 2008 have since closed. This is reflected in a significant decrease in coal’s capacity from 23.04% in 2018 to the current 21.55%.
Meanwhile, the deployment of new solar, wind, and hydropower projects in early 2019 increased renewable energy’s percentage of installed capacity to 21.56.
Although the current margin is narrow, as Engadget reports, this distance is likely to expand in the coming months as renewable energy gains more of a foothold with additional project deployments. A total of 186,000 megawatts of proposed wind and solar projects are expected to come online in the next four years.
As FERC indicates, renewable energy has added 1 percentage point to its share of US installed capacity each year. The agency predicts that renewables could reach 25% by 2022.
What shifts in capacity do you foresee? How do you think this tipping point will affect energy storage markets?