States, Power Companies Lead in Cutting Carbon; Election Not Slowing Expected 2017 Progress
EDF, January 10, 2017
2016 was a big year for progress in the U.S. power sector. Renewable energy sources provided 16.9 percent of the country’s electricity in the first half of 2016, up from 13.7 percent for all of 2015. The country’s first offshore wind farm opened off the coast of Rhode Island. Most importantly, carbon emissions from the power sector are projected to continue to decline and hit levels not seen since 1992.
Strong leadership by forward-thinking governors, policymakers, and power company executives who recognize the imperative of lower-carbon generation and the promise of clean energy, powerful market forces intensifying the push to lower-carbon resources, and the critical federal regulatory overlay of the Clean Power Plan — which has made clear that unlimited carbon pollution is a thing of the past — have all combined to deepen a trend towards cleaner electricity production at this dynamic moment in time.
Even with any possible political maneuverings in Washington, D.C. to reverse clean energy and climate progress, it is clear that the transition to a low-carbon future is well under way.
States and power companies are surging ahead — and given the favorable economics of clean energy and the urgent need to reduce climate-destabilizing pollution it would be foolish to turn back.
- More than 21 gigawatts of wind and solar power (utility-scale and rooftop) are projected to have been installed in 2016, accounting for 68 percent of new U.S. capacity additions. That’s according to analyses by FERC, SNL Energy, EIA, and SEIA/GTM Research.
- Some of the country’s oldest and least efficient power plants were scheduled to close in 2016, transitioning 5.3 gigawatts of capacity, in no small part due to increasingly favorable economics for low-carbon generation.
- Since 2014, solar installation has created more jobs than oil and gas pipeline construction and crude petroleum and natural gas extraction combined. According to recent reports, there are now more than 400,000 jobs in renewable energy.
Together, these trends indicate the U.S. power sector is well-positioned to continue to reduce carbon pollution at a significant pace. And because of the favorable economics for low-carbon generation and the urgent need to protect against climate risks, hundreds of major corporations are on record supporting the Clean Power Plan and the achievement of emission reduction targets.
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