2020 was a record year for US renewables. This is what needs to happen next

In 2020, the United States installed a record 35 GW of new renewable capacity, nearly doubling the 2019 rate. However, to meet President Biden's goal of 100% clean electricity by 2035 and a 50-52% emissions reduction by 2030, annual deployment must increase to between 60 and 70 GW. The briefing proposes four primary policy levers: implementing a federal Clean Electricity Standard (CES), reforming and expanding tax credits (such as the PTC and ITC), investing in transmission infrastructure to increase capacity by approximately 40% by 2030, and establishing an economy-wide carbon price.

• The United States achieved record clean energy development in 2020, installing 35 GW of new renewable generating capacity, which is nearly double the capacity installed in 2019 and sufficient to power 9 million homes.
• Solar and wind installations saw significant growth in 2020, with solar increasing by 65% (18.7 GW) and wind by 178% (16.5 GW) compared to 2019.
• Battery storage capacity grew by 178% in 2020, adding 1.1 GW, with projections suggesting annual installation rates could reach 7.5 GW by 2025.
• To meet decarbonization goals, the U.S. must increase renewable energy deployment 2-3 times from current levels, requiring an average annual build-out of 50 to 95 GW (typically 60-70 GW) over the next decade.
• A federal Clean Electricity Standard (CES) is proposed as a cost-effective tool to ensure 100% carbon-free power by 2035, building on the success of 30 states that already have such standards or Renewable Energy Standards.
• Current federal tax credits, including the Production Tax Credit (PTC) and Investment Tax Credit (ITC), require reform to provide long-term predictability and 'direct pay' options to remove the need for tax equity investors.
• U.S. transmission capacity must increase by approximately 40% by 2030 to achieve net-zero emissions by mid-century, as current capacity shortages are blocking new renewable projects.
• An economy-wide carbon price is identified as the most economically efficient tool for reducing greenhouse gas emissions across all sectors, including industrial sources like cement and steel.

APA

McLaughlin, L. B. K. (2021). 2020 was a record year for US renewables. This is what needs to happen next. World Economic Forum. https://www.weforum.org/stories/nature-and-biodiversity/united-states-biden-climate-change-goals-renewables-net-zero-emissions/

Chicago

McLaughlin, Lori Bird, Katrina. 2020 was a record year for US renewables. This is what needs to happen next. World Economic Forum, 2021. https://www.weforum.org/stories/nature-and-biodiversity/united-states-biden-climate-change-goals-renewables-net-zero-emissions/.

Wikipedia

{{cite report |last1=McLaughlin |first1=Lori Bird, Katrina |title=2020 was a record year for US renewables. This is what needs to happen next |publisher=World Economic Forum |date=14 June 2021 |url=https://www.weforum.org/stories/nature-and-biodiversity/united-states-biden-climate-change-goals-renewables-net-zero-emissions/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{mclaughlin20212020, author = {McLaughlin, Lori Bird, Katrina}, title = {{2020 was a record year for US renewables. This is what needs to happen next}}, institution = {World Economic Forum}, year = {2021}, month = jun, url = {https://www.weforum.org/stories/nature-and-biodiversity/united-states-biden-climate-change-goals-renewables-net-zero-emissions/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }