Renewable Energy Ramping Up at Record Pace

The first three months of 2016 saw the United States electrical grid add 70 times the amount of new energy capacity from renewable sources than it did from natural gas. During this three month span, nine new wind power projects provided 707 megawatts of capacity, followed by 44 solar projects adding 522 megawatts of capacity, biomass projects bringing 33 megawatts, and hydropower adding 29 megawatts. This compares to only two new natural gas projects providing 18 megawatts of generating capacity. No new capacity was added to the grid from coal, oil, or nuclear power generation. 

This record uptick in renewable projects coming online happened despite sharp declines in oil, coal, and gas prices that supposedly would protect the supremacy of fossil fuel generation. 

Government policy has certainly has had, and will continue to have, a role to play. Last December's Paris climate summit witnessed the U.S. pledge to lower its greenhouse gas emissions 28% by 2025. President Obama’s Clean Power Plan to reduce GHG emissions and state renewable energy mandates has prompted utility companies to increasingly invest in wind and solar farms.