Renewables continue to rise as a leading source of electricity in the US
May 12, 2022 /
- Falling technology costs along with state and federal incentives for wind and solar usage create strong competition for electricity generation.
- States’ Renewable Portfolio Standards, as well as declining capital costs, have allowed for sharp growth in the use of renewables over the past 10 years and this growth is projected to continue.
- Advances in wind energy technology have decreased the cost of producing electricity from wind, making it the most widely used renewable for electricity generation today.
- The US Energy Information Administration believes solar will surpass wind as the leading renewable source of generation around 2040, as incentives to invest in solar technologies continues to grow.