In this clip from "The High Energy Show" on Motley Fool Live, recorded on Feb. 8, Motley Fool contributor Travis Hoium discusses energy trends and how electricity demand has remained stagnant while renewable energy is taking market share.
Travis Hoium: This is the production of wind and solar over the last decade compared to U.S. electricity sales by utilities. You can see that solar has grown about 7x. Wind is almost tripled over the last decade in production. Meanwhile, electricity demand, overall, has gone basically nowhere. Typically, over the last four or five decades, you would expect between 1% to 3% growth per year. As we've gotten more efficient with things like LED light bulbs, and things like that, we're actually seeing demand stagnant. That's an interesting demand trend here going on in the energy space. As a result, renewable energy is taking market share, overall. Now, it is still a relatively small market share. I believe, solar is now a little over 2%. Wind, correct me if I'm wrong here, Jason, but I think it's something like 6% to 8%.
Jason Hall: It's about right.
Hoium: Then hydro, I believe, is still the biggest renewable energy producer in the U.S., although that's kind of stagnant to downward.
Hall: Yes. It's not growing.
Hoium: They're not building new hydro plants. They're actually taking them down in some parts of the world.
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February 12, 2022 at 11:05PM
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How Renewables Are Taking Market Share From Fossil Fuels - Motley Fool
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