The White House said that solar energy will provide nearly half of the country’s electricity by 2050. According to the ambitious plan, solar will rise from 3% of total generation in the year 2020 to 40% by 2035, and then to 45 percent by 2050, according to the ambitious plan.
To reach that blueprint, a lot of money will have to be spent across industries. Solar installations in the United States reached a new high in 2020, but annual solar capacity expansions will require to double through 2025 before quadrupling every year between the years 2025 – 2030. Solar’s rapid expansion has been fuelled by falling prices and supportive policies such as tax incentives over the previous decade.
According to the report, solar capacity will require to hit 1,600 gigawatts by 2050, according to the US Department of Energy Solar Energy Technologies Office as well as the National Renewable Energy Laboratory. This amount is greater than the current total power usage of residential and commercial structures.
The study on solar power is part of the Biden administration’s bigger ambition to establish the emissions-free grid by the year 2035 and a decarbonized energy system by 2050. Other carbon-free energy sources, most particularly wind, would make up the difference in solar power.
In a statement, Secretary in charge of Energy Jennifer Granholm said, “The study illustrates the truth that solar, our least expensive and fastest-developing source of renewable power, could produce sufficient electricity to operate all of the homes in the United States by 2035 and recruit as many as 1.5 million individuals in the process.”
According to the paper, extreme weather events fuelled by climate change are wreaking havoc on the US grid. “This really is code red,” President Biden declared while visiting Hurricane Ida-affected communities in New York and New Jersey. “Climate change presents an existential risk to our life and our economy.” And the danger is real; things aren’t going to get better,” he added. “The country and the entire planet are in jeopardy.”
The president’s words reflect those of United Nations Secretary-General Antonio Guterres, who called the latest Intergovernmental Panel on Climate Change report a “code red for mankind.” Significant advancements in grid flexibility, particularly energy storage and transmission expansion, will be required if the United States meets its objectives.
Although the Senate enacted an infrastructure package in August that included billions of dollars for renewable energy projects, some key provisions were left out, including the extension of tax credits. However, this and other ideas might still be included in the House’s $3.5 trillion budget resolution passed in August.