Three New Energy Growth Buys
Investors Rejoice: U.S. Renewables Could Top Coal by 2022; A surge in wind power can blow coal down the rankings in the near future. These renewable energy stocks could benefit.
Maxx Chatsko, October 19, 2019 (The Motley Fool)
“…The United States is expected to add 22,000 megawatts of wind power capacity in the 18-month period ending December 2020. Based on the average output of new wind turbines, upgrades to existing wind farms, the steady rise of solar power, and the epic collapse of coal-fired power plants, the country could generate more electricity from renewable power sources than it does from coal as soon as 2022…[C]oal-fired power plants will account for just 25% of total American electricity production in 2019 and 22% in 2020. That's down from 28% in 2018 and nearly 50% in the early 2000s…[A]ll renewable power sources -- primarily hydropower, wind, and solar -- will provide up to 19% of American electricity in 2020…[and] near-term estimates for renewable energy have historically underestimated the real-world growth of wind and solar…
The United States counted 97,000 megawatts of installed wind power capacity at the end of June 2019 and is expected to have roughly 120,000 megawatts spinning by the end of 2020…[T]he United States could lean on wind power for 10% of its total electricity in 2021. Add in expected contributions from hydropower (7%), solar (4% to 5%), and other renewables (1% to 2%), and the nation could generate at least 22% of its electricity from renewables…[C]oal-fired power plant retirements could help renewables top coal in 2021 or 2022 for the first time since the American Civil War…[American Electric Power (NYSE:AEP), NextEra Energy (NYSE:NEE)] and Xcel Energy (NASDAQ:XEL) are building big shares] of the nation's wind and solar power capacity…[T]he near-term surge in wind power will likely be surpassed by a surge in solar power investments beginning in the mid-2020s…[These may be] significant growth opportunities.” click here for more