According to a recent analysis from S&P Global Market Intelligence, Solar and wind deployments in the United States are on course to set new milestones in 2022 as the energy transformation gains traction. Next year, the company anticipates 44 gigawatts of utility-scale Solar and 27 gigawatts of wind. In addition, capacity is expected to treble by 2021, from an estimated 23 gigawatts nearly. In the case of wind, the predicted increases in 2022 are expected to comfortably surpass the existing annual record of 16 gigawatts set in 2020.
According to the Public Power Association, the United States has a total generating capacity of around 1,200 gigawatts. The growth of state-level renewable regulations and the expected extension of tax subsidies for the industry are supporting the uptick in the wind and Solar power output. S&P also noted an increase in corporate demand. Switching to renewable energy is often one of the first and easiest actions for organizations aiming to reduce emissions.
President Joe Biden has prioritized climate change for his administration, pledging to achieve a carbon-free power industry by 2035. This is part of his larger goal of reducing the country’s emissions to zero by 2050. In addition, the House of Representatives passed an infrastructure measure on Friday evening containing billions of dollars for sustainable energy projects.
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