State of the Renewables Industry

 

The renewable energy industry has not only gained traction over the past 5 years, it is currently dominating the energy markets.

Consider that renewables accounted for 49 percent of all new US electric generating capacity installed in 2012.  In 2014, renewables accounted for 55 percent of new electric capacity and for the first quarter of 2015 they accounted for 75 percent of new capacity.   Wind power generation is the fastest growing source of energy in, of all places, Texas.  From 2009 thru 2014 wind generated power grew by 70% in the state that is the hot bed of oil and gas fracking.   Texas leads the nation in wind generated power drawing 10.6% of the states total electric generation capacity from wind.

 

It is projected that within 2 years solar will reach price parity with all other forms of electric generation in nearly every state across the nation.

 

Major utilities across the country, like Duke Energy, Sun Edison, Xcel and PG&E, are investing billions of dollars in renewables.  A testament to the direction in which energy production is moving, and moving at lighting speed.

 

A Department of Energy study recently released projects that the US could get 10% of its power from wind by 2020 (presently around 4%), 20% by 2030, and 35% by 2050.  Couple these projections with solar and our nation has the basis for true and realistic energy independence.

 

Both China and India are currently working to install an additional 100 GW of solar capacity, each, in the next 5-7 years.  In Europe, the EU collectively generates more than 15% of its gross consumption of energy from renewables.  Renewable energy capacity is growing at breakneck speed around the world and as costs continue to fall, the pace will only increase.

 

It’s clear to see that cost effective, clean and renewable energy sources are the solution for a sustainable future, for our nation, and the rest of the world.

 

Evergreen Technologies, Inc. plans to be an important part of the future.