U.S. politics and policy updates
Sign up for myFT Daily Digest and become the first person to learn about U.S. politics and policy news.
The Biden administration stated that in a study, solar energy can provide 40% of the electricity in the United States within 15 years, compared with only 3%. In the debate.
This scenario will be necessary as part of an active push to reduce carbon emissions from grids that currently rely heavily on natural gas and coal.
this LearnResearch released by the US Department of Energy on Wednesday found that solar power can quickly expand without raising electricity prices, while creating up to 1.5 million jobs.
But this will depend on “active cost reductions, supportive policies, and large-scale electrification,” in which energy use such as building heating and transportation no longer relies on direct burning of fossil fuels.
The government is working hard to win Congress’s support for the US$3.5 trillion budget plan, which includes measures aimed at achieving the president’s goal of net zero emissions by 2050 and a completely carbon-free domestic power industry by 2035.
The package may include new tax credits for investments in renewable energy generation, storage, and transmission, and Clean Power Payment Plan Promote utilities to switch to more environmentally friendly electricity.
US Secretary of Energy Jennifer Granholm (Jennifer Granholm) said: “To achieve this bright future, a large-scale and fair deployment of renewable energy and a strong decarbonization policy is required.”
Utilities, independent power producers and owners have accelerated the installation of solar photovoltaic systems in the United States.
Newsletter twice a week
Energy is an indispensable business in the world, and energy is its newsletter. Every Tuesday and Thursday, Energy Source will be sent directly to your inbox, bringing you important news, forward-looking analysis and insider intelligence. Register here.
According to data from the U.S. Energy Information Administration, an independent analysis agency of the Department of Energy, about 15 GW of solar power generation capacity was installed last year, most of which was used for large-scale “utility-scale” projects. In another forecast released on Wednesday, EIA stated that under current policies, utility-scale solar capacity will increase by 15.9GW and 16.3GW in 2021 and 2022, respectively.
This speed is far below the speed required to achieve the US decarbonization target. The Ministry of Energy’s solar energy research shows that the new installed capacity in the next five years must reach 30 GW per year, and between 2025 and 2030, to reach 60 GW per year in order to achieve the policy goal.
The study said that the scenario will bring the cumulative solar capacity of the United States to 760GW-1,000GW by 2035, up from about 80GW last year.
The study stated that the reduction in emissions achieved by the decarbonized grid would save between US$110 and US$170 million, and the cost of new electricity would be “fully offset by the savings brought about by technological improvements.”
However, the Ministry of Energy stated that if there is no supporting policy, emissions from the grid will only drop by 60% in the next 15 years.
It added: “Continuous technological advancements to reduce the cost of solar energy are also necessary to achieve widespread solar deployment.”
Large-scale solar farms are usually built in fieldThe study stated that by 2050, ground-based solar projects will require the largest area equivalent to 0.5% of that of the United States, excluding Alaska and Hawaii. However, the study indicated that the country has enough “disturbed land” for construction.