The Cumulative capacity of Thermal power plants in United States of America reached 825,169.43 MW in 2020
The indicator recorded a historical decline (CAGR) of 0.69% between 2017 and 2020, and is expected to decline by...
GlobalData projects the indicator to decline at a CAGR of ...
Cumulative capacity of thermal power plants in the US declined in 2020
Thermal power was the dominant source of power in 2020, accounting for a mid-double-digit share of total installed capacity. Gas-based thermal power capacity contributed a most, followed by coal, and oil. This was followed by renewable power sources, including onshore wind, solar PV, biopower, geothermal, solar thermal, and offshore wind.
During 2000–2020, annual power generation increased. In 2020, thermal power dominated the capacity segment, followed by nuclear power, renewable power, and hydropower generation.
Installed thermal power capacity increased between 2000 and 2020 at a low-single digit CAGR. Within thermal sources, gas was the dominant technology in 2020. By 2030, the cumulative thermal power capacity is expected to decline at a negative low-single digit CAGR between 2020 and 2030. The most remarkable feature of the US thermal power market is that of natural gas overtaking coal as the main source of electricity generation since April 2015. The share is likely to increase more as most thermal projects in the pipeline are to be run on natural gas. This significant transition is mainly due to increased shale gas production since 2008, due to improved drilling technology, resulting in reduced prices. Other advantages of gas-based power plants such as the ability to increase or decrease output at a short notice, lower capital costs, reduced emissions, and lower water requirement compared to coal-based power plants have actively contributed to this transition.
Related Companies
NextEra Energy Inc, Duke Energy Corp, and Tennessee Valley Authority are among some of the major power generating companies in the US.
NextEra Energy Inc (NEE) is an electric power and energy infrastructure company. It generates, transmits, and distributes electricity; and holds investments in gas infrastructure assets. The company produces power using nuclear, coal, oil, natural gas, wind, and solar sources. NEE also purchases electricity for resale and provides risk management services related to power and gas consumption. It serves residential, commercial, industrial, wholesale, and other customers in Florida; and owns, develops, constructs, manages and operates electricity generation facilities in the US and Canada wholesale energy markets. NEE is headquartered in Juno Beach, Florida, the US.
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