Morgan Stanley estimated that by 2033, coal would disappear from the US power system on the back of the rising carbon-free electricity strength.
Renewables would supply 39% of the country’s electricity in 2030 and 55% in 2035, replacing fossil fuels, according to Morgan Stanley. It added that the replacement would be a result of the increasing number of US states imposing laws for utilities to eliminate carbon emissions from their fleets.
In 2020, coal supplied roughly 20% of the country’s electricity. The US Energy Department predicted that this year, the utilization might rebound up to 22% due to higher natural gas prices. However, the increase would not affect the global shift toward cleaner energy sources.
Morgan Stanley estimated gas prices to skyrocket by 48% in 2021. However, it also projected that afterward, the consumption of coal would show a constant decline.
