The State of Sustainability

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Driven by ever-increasing demand, the energy industry is growing rapidly around the world, and especially in developing nations. At the same time, rapidly falling prices are turning renewables and natural gas into attractive alternatives to the dirty and dangerous coal industry. Advances in energy storage will be the catalyst that finally pushes the world towards clean power generation.

Oil

Oil, a non-renewable “fossil fuel,” currently accounts for approximately 37% of the US’s annual energy consumption and 33% of global energy consumption.

Natural Gas

Gas, a non-renewable “fossil fuel,” currently accounts for approximately 29% of the US’s annual energy consumption and 24% of global energy consumption.

Coal

Coal, a non-renewable “fossil fuel,” currently accounts for approximately 15% of the US’s annual energy consumption and 29% of global energy consumption.

Solar

Solar power is a renewable energy source that currently accounts for approximately 0.6% of the US’s annual energy consumption and 0.45% of global energy consumption.

Hydro/Tidal

Hydro power is a renewable energy source that currently accounts for approximately 2.4% of the US’s annual energy consumption and 6.8% of global energy consumption.

Wind

Wind power is a renewable energy source that currently accounts for approximately 2.1% of the US’s annual energy consumption and 1.4% of global energy consumption.

Nuclear

Nuclear power is a renewable energy source that currently accounts for approximately 9% of the US’s annual energy consumption and 4.4% of global energy consumption.

Trends

Natural Gas

Natural Gas is expected to grow faster than Oil and Coal, driven by vast shale deposits in the United States.

Legislation

Renewables will continue to increase their marketshare, aided by legislation like the SCOTUS acceptances of the Clean Power Plan and FERC Order 745, and New York’s massive $5 billion Clean Energy Fund in 2016. But, there is a fear embedded in the current administration of renewables.

Digitization/Costs

Digital demands and innovations will disrupt the market, as smart metering increases in ubiquity and consumers have more control over where their electricity is coming from. And, falling costs may make renewables cheaper than traditional forms of energy.

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