Green Energy in the US: Renewable investment, capacity growth and future outlook

Business Insights

- Pub ID: RET2482158

Countries covered: United States

US electrical production capacity and generation has had historically an energy mix consisting primarily of fossil fuels including gas, coal and oil, backed up with a volume of nuclear and hydro power. With the new presidency have come new decisions. The US department of energy announced massive investment the renewable industry including $60bn in clean energy investments, which will include $11bn in a smart grid system, $2bn in developing the next generation of energy storage batteries. An announced move away from corn-based ethanol fuel and $1.8bn investment in the next generation of biofuels will stimulate the vehicular fuel industry, towards a cleaner, more efficient system. The new administration has announced intention to develop available offshore renewable energy source located on the continental shelf area. The area has vast potential and scientists estimate that 900GW of wind power may be achieved. Although still primarily a conventional thermal based country, through incentivized support in renewable energy, a new energy market is beginning to evolve. Recent addition has been made to the energy mix by way of renewable energy technologies which include power from the wind - wind turbines, and power from the sun - solar cells, and geothermal - relying on the heat that can be found at varying degrees of depth into the Earth’s surface. In the last decade newly installed renewable energy technologies are starting to gain a notable share of the market. ‘Green Energy in the US’ is a new report published by Business Insights that documents the growth of this new market, showing its current status and projecting where it is likely to grow to in the foreseeable future. This report gathers the statistical data on the different types of energy generation, combines and contrasts them against each other to show the clear leaders, drivers to change and future growth.

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