nuclear-news

Great majority of USA’s demand growth to come from renewable sources

Credit Suisse Projects ~85% Of US Energy Demand Growth Coming From Renewables http://cleantechnica.com/2014/01/01/credit-suisse-projects-85-us-energy-growth-coming-renewables-2025/Credit Suisse on December 20 released a report with some quite bullish projections regarding renewable energy growth and generation in the United States, which someone in the solar industry kindly passed on to me. Here’s the short summary:

Our take: We see an opportunity for renewable energy to take an increasing share of total US power generation, coming in response to state Renewable Portfolio Standards (RPS) and propelled by more competitive costs against conventional generation. We can see the growth in renewables being transformative against conventional expectations with renewables meeting the vast majority of future power demand growth, weighing on market clearing power prices in competitive power markets, appreciably slowing the rate of demand growth for natural gas from the power sector, and requiring significant investment in new renewables.

What percentage of future growth does Credit Suisse say might come from renewables? About 85%.

Renewables will meet most of US demand growth. We estimate that ~85% of future demand growth for power through 2025 (including the impact of coal plant retirements) could be met by renewable generation with compliance to the existing 30 mandatory and 8 voluntary RPS programs. From this we would see over 100 GW of new renewable capacity additions with wind and solar market share more than doubling from 2012 to 2025

January 2, 2014 - Posted by Christina Macpherson | Uncategorized