Renewables seen to bring 16% of US electricity by 2040
Dec 7, 2012 - The share of renewable electricity, including conventional hydropower, in the US is to rise to 16% in 2040 from 13% in 2011, says an early release of the US Energy Information Administration's (EIA) annual energy outlook (AEO) 2013.
Power production from solar as well as wind to a smaller degree is to grow as those sources become more economical due to recent cost declines, EIA said on Wednesday. Electricity generation from solar photovoltaic (PV) is to show the fastest growth, according to the report. Expanding from a small base, it will represent 17% of the total amount of electricity produced from renewable sources, excluding hydropower, in 2040.
Renewable energy consumption, excluding hydropower, in the electricity sector is seen to increase to 4.5 quadrillion BTU (British thermal units) in 2040 from 1.6 quadrillion BTU in 2011. Wind is to account for 44% of the growth and biomass for 24%.
As for biofuel, its share in total demand for liquid fuels in US is to rise to 5.8% in 2040 from 3.5% last year, according to the AEO. Biofuel consumption in 2040 is seen to nearly double to 2.1 quadrillion BTU from 1.3 quadrillion BTU in 2011.