Monday Morning Optimism 4/24/23

Renewable Energy Progress

Welcome to our Monday Morning Optimism series. To start each week, we’ll send you an economic trend/fact/idea that shows how some aspect of the economy (or world) has improved over time.

The share of U.S. energy consumption that comes from renewable energy sources has steadily increased over the past two decades, from a low of 5.4% in 2001 to 13.1% in 2022. Renewable energy sources accounted for nearly 20% of utility-scale electricity production in 2021.

Over the past decade, U.S. consumption of solar energy and wind energy has increased by 731% and 140%, respectively, while consumption of coal decreased by 45%. As production of these technologies ramp up, costs will fall, making adoption more financially feasible.

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