US renewable energy use will exceed coal production for the first time

The British "Daily Mail" reported on April 29 that a report by the US Institute of Energy Economics and Financial Analysis (IEEFA) predicts that power generation from hydro, biomass, wind, solar and geothermal energy will begin this month. Will exceed the traditional coal-fired power plants. If this happens, it will be the first time the renewable energy industry has exceeded coal production.

The US Energy Economics and Financial Analysis Institute (IEEFA) said that this trend may continue into May, which is a promising signal for renewable energy. This trend will occur occasionally in the coming years as renewable energy becomes cheaper and the world's attention is focused on reducing the impact of carbon fuels on climate change by reducing the use of fossil fuels.

The growth of solar and wind energy is particularly evident, with the former generating electricity being 48 times as many as 10 years ago due to cheaper equipment and government incentives.

The seasonality of resource use helps renewable energy to replace coal. Coal plants usually reduce production in the spring, as energy consumption slows down and some plants are shut down due to maintenance. The trend of replacing renewable energy with coal is significant, especially In the case of the coal industry is in trouble. Coupled with the growth of renewable energy, coal consumption has shown a diametrically opposite downward trend. Last year, the proportion of coal used in the United States hit a new low in nearly 40 years.

Coal has fallen out of favor, in part because of the decline in natural gas costs. In 2016, natural gas replaced coal as the fuel of choice in the United States, thanks in part to the booming hydraulic fracturing industry, which continues to extract rich fossils from oil shale in Bakken, North Dakota. fuel. Although US President Donald Trump rekindled interest in revitalizing the coal industry, coal production continues to decline.

Even though renewable energy is rapidly entering the US market, solar, wind and hydropower still account for only a small portion of US production. According to the US Energy Information Administration, renewable energy accounts for about 11% of US energy, while fossil fuels account for 80%. However, as coal use declines, more and more companies in the fossil fuel industry are turning to renewable energy, hoping to secure their future in the economic and other areas.

According to CNN, a US$30 billion (about 195.3 billion yuan), half of the energy production relies on coal. Exxel Energy announced in March that it will close a quarter of its factories and plans to go to 2050. The production of zero carbon energy is achieved in the year.