In the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook, it expects that increased U.S. power generation from new renewables capacity – mostly wind and solar – will reduce generation from both coal-fired and natural gas-fired power plants in 2023 and 2024.
With the new solar and wind projects coming online this year, EIA forecasts these two energy sources will account for 16% of total generation in 2023, up from 14% last year and 8% in 2018. In contrast, EIA’s forecast share of generation from coal falls from 20% in 2022 to 18% in 2023; the forecast share from natural gas declines from 39% to 38%.
One of the most significant shifts in the mix of U.S. electricity generation over the past few years has been the rapid expansion of renewable energy resources, especially solar and wind. The U.S….