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According to Morgan Stanley, coal is expected to disappear
from the U.
S.
grid by 2033 as the push for carbon-free power systems continues to grow.
Morgan Stanley's report Monday showed that fossil fuels will be largely replaced by renewables, which will provide 39 percent of U.
S.
electricity in 2030 and 55 percent in 2035
.
This shift is happening
as more states implement laws requiring utilities to reduce carbon emissions.
The Department of Energy predicts that coal, which supplied about 20 percent of U.
S.
electricity in 2020, could rebound to 22 percent by 2021 as rising natural gas prices prompt utilities to change their fuel mix
.
But this short-term rally will not offset the global shift to cleaner sources of electricity, a trend that is being given a huge boost
by President Biden to move the United States toward an all-green power system.
Morgan Stanley analysts said in the report that gasoline prices could rise 48 percent this year, "which will drive coal production and the industry's carbon footprint to increase in 2021, but will continue to decline
thereafter.
" ”
According to Morgan Stanley, coal is expected to disappear
from the U.
S.
grid by 2033 as the push for carbon-free power systems continues to grow.
Morgan Stanley's report Monday showed that fossil fuels will be largely replaced by renewables, which will provide 39 percent of U.
S.
electricity in 2030 and 55 percent in 2035
.
This shift is happening
as more states implement laws requiring utilities to reduce carbon emissions.
The Department of Energy predicts that coal, which supplied about 20 percent of U.
S.
electricity in 2020, could rebound to 22 percent by 2021 as rising natural gas prices prompt utilities to change their fuel mix
.
But this short-term rally will not offset the global shift to cleaner sources of electricity, a trend that is being given a huge boost
by President Biden to move the United States toward an all-green power system.
Morgan Stanley analysts said in the report that gasoline prices could rise 48 percent this year, "which will drive coal production and the industry's carbon footprint to increase in 2021, but will continue to decline
thereafter.
" ”
