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In a groundbreaking shift, renewable energy sources have achieved a new milestone in the United States. According to a recent report, wind and solar power generated more electricity than coal for the first time ever in 2024.
A Historic Transition: For decades, coal dominated US electricity production. However, 2024 marked a turning point, with wind and solar energy combining to supply 17% of the nation’s electricity, surpassing coal’s 15%. This represents a record low for coal, which once fueled over half of the country’s power needs.
Image of Ground-mounted solar panels from Wikimedia Commons
The Age of Electricity: As the world transitions from fossil fuels, solar, wind, and battery technologies are taking center stage, not just supplementing but actively replacing traditional sources. OECD nations, including the US and EU, are leading this charge. The UK, once the heart of the Industrial Revolution, has closed its last coal-fired plant. In the EU, renewables outstripped fossil fuels, generating 30% of electricity in the first half of the year, compared to fossil fuels’ 27%.
Key Figures: In the US, solar and wind generated more electricity than coal between January and November. Wind power alone outperformed coal in March and April. These renewable sources supplied 90 terawatt-hours (TWh) more electricity than the previous year, enough to power 9 million homes.
The Role of Batteries: Energy storage has been a hurdle for renewables. However, declining battery costs are revolutionizing the industry. Lithium iron phosphate (LFP) batteries, which are more affordable, have seen significant price drops. Battery storage costs in India have halved in three years, from $450/kWh in 2021 to around $200/kWh in 2024.
Investment and Policy: Grid-scale battery capacity is projected to increase tenfold by 2030. Countries are investing heavily in battery storage. The Inflation Reduction Act of 2022 has boosted renewables with tax credits, while state regulations encourage utilities to move away from fossil fuels. Several states now mandate 100% clean electricity by 2050 or sooner.
Obstacles and Progress: Despite attempts to hinder renewable energy growth, market forces and policy changes continue to drive its expansion. Utilities are increasingly recognizing the long-term economic benefits of investing in renewable energy infrastructure.
Image of Wind turbines from Wikimedia Commons
A Global Perspective: The energy transition is accelerating worldwide. Regions are generating more electricity from renewables than fossil fuels, storage solutions are improving, and costs are falling. The age of fossil fuels is coming to an end, and the future is electric, powered by solar, wind, and batteries.