We’ve been doing this for decades, so we understand the ups and downs of the Renewable Energy industry. See EIA or Energy Information administration forecast below for Solar, Wind, Hydro, Biomass, Geothermal and other renewable Energy companies. Our variable cost model (Video to the left) adjusts with market conditions, keeping you on track regardless of the economy.
EIA expects the share of generation from renewable sources will increase from 20% in 2020 to 21% in 2021 and to 23% in 2022. Within the renewables category, hydropower generally averages about 7% of total generation, and EIA forecasts that it will be about that share in 2021 and in 2022.
The United States is expected to see an increase in capacity additions in 2021 compared with last year. The expiry of tax credits in the United States in 2021 are resulting in project development rushes. However, the government is expected to provide some flexibility, allowing projects to be commissioned in 2021 without losing their incentives. As a result, the forecast expects that some wind and solar PV will be rescheduled and commissioned in 2021.