The Energy Information Administration (EIA) predicted that a year from now, gas energy would be ranked top power source in the country all through 2050. Lately, they changed their view. Officially now, the United States (EIA) has reviewed that renewable energy can outshine the natural gas on electricity mix in the country. EIA a time now has been known in implausibly predictions over renewable energy. Almost a year for the Energy Information Administration foretold that the natural gas remains the country’s best source of electricity until 2050. The last year’s annual energy outlook stated that the natural gas contributed up to 39% of the power mix outputting other renewables at 31% in 2050.
2020 (AEO) Annual Energy Outlook predictions are down. The renewables are moving up to 38% of electricity in 2050. This record indicates a drop to 36% from 37%. In a statement Lisa Capuano, the EIA administrator said that renewables are now growing faster as a source of power generation through 2050 as cost lowering makes them economically competitive past the time out of the current state policy and federal support. It is not easy when it comes to predicting the energy market, but the EIA has tried to get it right in many sectors for decades now Axios laid it last month that they moved from fracking revolution and then the plunging of solar and wind prices.
The current take of the EIA on renewables is not sweating them in any way. The country covered by natural gas, which is additionally cheap and the unavoidable renewable electricity has been encouraged by even the country’s national agency heading energy analysis. It is also surprising that the renewable industry its implications are still significant in the coming decades. The wind and solar claim the market share gaining’s for the coming decades in the expanding United States electricity market, while the natural gas and its sources are all slipping. Energy Information Administration is expecting the rapid growth of renewables. The report says that with renewables outshining natural gas past 2045 generation. Alternatively, the low renewable cost outshining can happen in the 2030s. Thus, the higher or, the more economical the gas price can affect the outshining time. All in, we can hope for the best quality and stability of energy in 2050 as long as the involved companies remain focused.