Power markets have witnessed a precipitous drop in coal-fired generation this year, driven by low natural gas prices, a mild winter and a wave of coal plant retirements.
“From a coal perspective, it has been a disaster,” said Andy Blumenfeld, an analyst who tracks the industry at McCloskey by OPIS.
Wind and solar sources generated a combined 252 terawatt-hours through the first five months of 2023, compared with coal output of 249 TWh, EIA data shows.
“Our official estimates from the Electric Power Monthly show that combined electricity generation from wind and solar exceeded generation from coal in January, February and March,” he said.
While coal was declining, wind and solar have been growing by leaps and bounds.
Power companies added 22.5 GW of wind and solar capacity in the 12 months ending in May, EIA reported last week.
Coal accounted for 55 percent of power sector emissions in 2022, according to EPA data, despite representing just 20 percent of total power generation. »
