SO News - Falling renewable energy prices may allow the US to reach 90% clean energy by 2035
Renewable energy continues to be the only global energy sector that grew in double digits over the past 10 years, with renewable energy consumption growing at an average annual rate of 17.7%.
Historically, renewable energy has been considered an expensive and unreliable power source for the US grid. However, this consideration has now been overturned thanks to new research carried out by the Goldman School of Public Policy. The report found that wind, solar and storage prices had declined at such a fast pace that the United States would be able to reach 90% clean electricity by 2035. And, they would be able to reach this target without having to increase costs to customers.
The achievement of this target will be supported by the legislation that individual states are introducing to reduce their dependence on fossil fuels. Such as Virginia’s General Assembly recent passing of the landmark clean legislation bill that doubles their offshore wind goal, clearing the way for big deployments of solar and storage.
The renewable energy industry is a major U.S. employer, so adding all this clean energy by 2035 would introduce approximately 9 million new jobs to the US energy sector, which is 530,000 more jobs per year across the country. This production of jobs is seen as particularly important given the recent and ongoing impact of the Covid-19 pandemic on employment levels.
Furthermore, renewable energy jobs can offer higher than average wages, can’t be outsourced and are often available to those without college degrees which opens the future opportunities to many Americans.
Renewable energy is therefore set to be America’s fastest growing sector in terms of electricity generation and job growth through to 2035.
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