By 2050, Solar Energy Is Expected To Account For 20% Of All Electricity Generated In The United States

Solar Energy industry

Solar energy continues to increase the amount of power generated in the United States. According to the Energy Department, solar power, which accounted for 3% of US electricity in 2020, will expand at a rate of roughly 1% per year in 2021 and 2022.

According to recent study, Bloomberg New Energy Finance (BNEF) concludes that “aggressive decarbonization” will be necessary until 2030 to reach the Paris Agreement’s temperature targets, which is likely to increase the demand for renewable energy at greater extent.

In terms of electricity, BNEF’s 2019 New Energy Outlook (NEO) forecasts a 62 % rise in worldwide power requirements, resulting in a tripling of global producing capacity from now until 2050, when solar and wind power will account for over half of global energy due to falling costs.

According to the analysis, coal will be phased out everywhere except Asia by 2032, and wind & solar electricity would outnumber coal-based electricity. With the approaching end of oil as an energy source, it predicts that coal’s share of the global electricity mix will fall from 37 % now to 12 % by 2050.

According to the EIA, this percentage will rise to 14% of the US total in 2035 and 20% in 2050. This covers power generated by utility-scale solar facilities with a producing capacity of 1 megawatt or more, as well as small-scale solar facilities with a generating capacity of less than 1 megawatt.

According to the EIA, utility-scale solar energy has expanded significantly in the United States over the last few years as overall construction expenses for solar power facilities have decreased.

There are two efficient ways through which solar energy can generate electricity includes solar thermal and photovoltaics.

Sunlight is converted into electricity using solar PV cells, such as those found on rooftop solar panels. Solar thermal facilities use mirrors to focus sunlight at a central receptor, generating the high temperatures required for a steam-powered turbine to create electricity.