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What is the market share of electricity generation from renewable sources?

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How important renewable energy sources are going to be for the US in the amid crisis. With the rise of global tension with oil crude and natural gas reserves. In a cold war with Russia, what the US needed is the use of more independent resources within their own country.

In addition, renewable energy sources are available at each household’s doorsteps as well as in big companies.

As per the Biden-Harris administration, renewable energy such as solar, onshore and offshore wind, geothermal, and wave and tidal energy projects help communities across countries to be a part of the climate-friendly solution with good-paying union jobs.

The current administration of the Biden-Harris government is making a strong effort and ambitious renewable energy goals to create jobs for supporting families, boost local economies, and address economic injustice.

“As directed by President Biden’s Executive Order 14008, Tackling the Climate Crisis at Home and Abroad, Interior has partnered with other federal agencies to increase renewable energy production on public lands and waters —including a commitment to deploy 30 gigawatts of offshore wind by 2030 and a target goal of permitting at least 25 gigawatts of onshore renewable energy by 2025.”

The reasons for the demand for renewable energy resources are:-

  • Technological advances
  • Interest rates are increased
  • Cost-effectiveness
  • Economic potential is tremendous
  • Combatting climate change and
  • Communities investments

Renewable electricity capacity as a percentage of total U.S. electricity generating capacity from 2010 to 2018,

Renewable electricity net generation in the U.S. from 2018 to 2019, by source (in billion kilowatt-hours)

What kind of deals did US companies make with solar and wind energy in 2019?

As we can see, the main resources of renewable energy capacity by technology are Geothermal, Biomass, Biogas, waste to energy, solar, wind, and Hydro. (Bloomberg New Energy Finance)

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