Electric power has transformed the course of humanity and has become a vital component of infrastructure building, thus nation and economy building. Generation of electric power is diverse in nature and the establishments in the industry keep innovating and reinventing technologies for a higher yield.
The power generation market consists of establishments primarily engaged in operating electric power generation facilities. They produce electric energy and provide electricity to transmission systems or to electric power distribution systems. The production can be from a variety of sources including fossil fuels such as coal, oil, natural gas; water, nuclear, solar, wind and other renewables.
In the last decade (2010-2020), the electricity generation has increased by 2.2% from 21,570 terawatt hours to 26,823 terawatt hours. During the same period, the power generation from oil decreased by 2.24%, gas increased by 2.55%, coal increased by 0.88%, nuclear decreased by 0.25%, hydro increased by 2.26%, renewables increased by 15.25% and from other sources increased by 0.68%.
The power generation market is undergoing a systemic change where the maximum increase in new power generation capacity is primarily from renewable energy generation sources. The share of renewables in the total energy mix grew from 3.53% in 2010 to 11.73% in 2020.
United States (US) Power Generation Scenario
In 2020, the electric power generation in the United States (US) was 4286.58 terawatt hours, accounting for 15.98% of the power generation in the world. The percentage of population with access to electricity was 100. 0.44% of the power was generated from oil, 40.56% from gas, 19.69% was from coal, while 12.87% was from renewable sources. Among the renewable sources, solar accounted for 24.28% and wind accounted for 61.79%. During 2015-2020, the electricity generation decreased by 0.29%.
The installed capacity of Solar Photovoltaic in the United States (US) was 73814 MW while for wind it was 117744 MW. The capacity increased by 27.76% and 10.16% for solar and wind respectively, since 2015.
In the same year, the average electricity price in the United States (US) for the residential sector was US Cents 16.3/kWh, while, for the commercial sector it was US Cents XX/kWh.
What we cover in the Report?
According to Blackridge Research, the companies in the power generation sector need to capitalize on the opportunities arising from shifting business models with sustainability as a focal point.
Blackridge Research?s United States (US) Power Generation Market report contains the installed capacity of power generation sources (year-on-year), the market size and forecast to 2027, the list of ongoing and upcoming power generation and transmission & distribution facilities and the regulatory scenario within the power market of the United States (US)
Furthermore, the report will contain the drivers and restraints within United States (US) Power Generation Market along with a meticulous evaluation for their impact in the near-, medium-, or longer-term using Harvey balls and a presentation to enable identify market opportunities and plan for a long-term growth.
The impact of COVID ? 19 pandemic is an integral part of the report.
Get a free sample copy of United States (US) Power Generation Market report by clicking the "Download a Free Sample Now!" button at the top of the page.