EIA: Fossil-Fueled Power Generation to Lose Share to Renewables

 EIA: Fossil-Fueled Power Generation to Lose Share to Renewables

Fossil-fueled power generation will lose share to renewable resources across the nation’s generation portfolios, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook. Published on Tuesday, the current edition of the report is the first to include energy forecasts for 2017.
“A decline in power generation from fossil fuels in the forecast period is offset by an increase from renewable resources,” the report says.
The share of natural gas-fired power generation is expected to fall from 33 percent in 2015 to 31 percent in 2017. Likewise, the share of coal-fired power generation will fall from 34 percent to 33 percent in the reporting period.
Renewables are expected to increase their share of the country’s power generation portfolio, with hydropower rising from 6 percent in 2015 to 7 percent in 2017, and the share of all other renewables rising from 7 percent to 9 percent in the same period.
The report sees continued growth in utility-scale solar power, forecasting a production average of 129 gigawatthours per day in 2017, which represents a 45-percent increase over 2016 levels.  Levels in 2016 will themselves amount to a 126-percent increase over 2014 levels. All told, utility-scale solar is forecasted to account for 1.1 percent of total U.S. power generation in 2017. North Carolina, Nevada and California will together account for about two-thirds of capacity additions in 2015 and 2016.
With its larger installed capacity base, wind energy grew by 13 percent in 2015, says the report. It is forecasted to increase by 14 percent in 2016 and 3 percent in 2017.
In addition to forecasting the shares of fuels in the country’s power generation portfolio, the report also provides outlooks for crude oil  production and prices, natural gas working inventories and gasoline prices.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...