Solar power is expected to be the leading source of growth in electricity generation over the next two years, according to predictions by the US Energy Information Administration (EIA). It forecasts an increased capacity for solar power that will boost the solar share to six per cent in 2024 and seven per cent in 2025, up from four per cent in 2023.

The EIA’s Short-Term Energy Outlook report has also forecast that electricity generated from coal will decline by nine per cent in 2024 and by 10 per cent in 2025. They put this down to a combination of higher costs compared to renewables and the reduction of 12GW of coal-fired capacity retiring in the next two years.

Despite the rise in renewable energy, the outlook also predicts that a new record for crude oil production will be reached in 2025, with the EIA predicting that the US will be producing more than 13.4 million barrels in 2025. They say the increased production will be driven by increases in well efficiency, however state that this growth will slow after 2025 due to fewer active drilling rigs.

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