The United States’ use of coal continued to decline in 2019, while renewable energy and natural gas consumption remained strong, according to the Energy Information Administration (EIA).
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The United States will add 42 GW of new electricity capacity to commercial operations this year, with 9.31 GW (22%) coming in the form of natural gas-burning facilities, but the largest additions will be wind and solar generation, according to the Energy Information Administration (EIA).
Renewables and battery storage are only part of the equation leading to meeting California’s aggressive decarbonization goals, according to a report presented at a seminar at Stanford University on Wednesday by former Department of Energy Secretary Ernest Moniz.
Natural gas generation has been the biggest beneficiary of market share as coal generation declines, but the “principal winners” in the U.S. electricity mix eventually will be wind and solar, according to Raymond James & Associates Inc.
Natural gas is on track this year to see the largest drop in its share of U.S. electric generation in over a decade, highlighting the price sensitivity of power burn as gas competes with renewables in the years to come, according to an analysis by Raymond James & Associates.
For the Big Oil majors, the portfolios are shifting considerably over the next decade toward natural gas and low breakeven oil, but they also are eyeing more penetration in renewables as investor sentiment toward carbon hardens, Wood Mackenzie researchers said Monday.
May natural gas is set to open unchanged Friday morning at $3.16 as traders factor in highly variable weather and see technical support levels intact for the moment. Overnight oil markets were narrowly mixed.
April natural gas is set to open 2 cents lower Friday morning at $3.03 as traders view the market as slightly overbought and little in the way of supportive weather is seen on the horizon. Overnight oil markets rose.