US wants to source 40% of its power demand from solar energy by 2035, says DOE report

In a bid to tackle climate crisis, the Biden administration has decided to source nearly 40% of the United States' electricity consumption from solar energy. The move has been undertaken as a part of a "deep decarbonisation of the grid" drive to ensure massive and equitable deployment of clean energy sources "without raising electricity prices," the US Department of Energy (DOE) stated. The declarations were made based on the Solar Futures Study prepared by the DOE's National Renewable Energy Laboratory.

"The study illuminates the fact that solar, our cheapest and fastest-growing source of clean energy, could produce enough electricity to power all homes in the US by 2035 and employ as many as 1.5 million people in the process," secretary of energy Jennifer M. Granholm said in a statement.

The announcement made on September 8, Wednesday stated that the Biden administration is ambitious to increase the current 3% energy sourcing to the estimated 40% rise by 2035. Talking about the benefits of the solar energy sourcing, DOE explained in its statement that the blueprint has aimed to reach milestones like - equitable deployment of diverse, sustainable energy sources, creation of cross-sector jobs through massive advanced investment and transmission expansion, and significant health and cost savings through reduced carbon emissions. Furthermore, the statement also informed that the country's electricity supply system would require a massive revamp to ensure cheap and sustainable energy sourcing across the United States. Some of the points highlighted by the DOE were decarbonisation of grids, massive renewable energy sources, large-scale electrification, and grid modernisation.

The US installed a record amount of solar panels in 2020

As per the DOE statement, the U.S. installed 15 gigawatts (GWac) to a total of 76 GW solar panels, which amounted to the contribution of 3% of the total electric supply. As per the study, by 2035 US would need to add 1000 GW of power to ensure adequate energy production to illuminate all commercial and residential complexes. Lastly, by 2050, it would require an additional 1600 GW to produce more energy that would power transport systems and industrial sectors. To achieve the said target "the US must install an average of 30 GW ABB solar capacity per year between now and 2025 and 60 gw per year from 2025 to 2030," the DOE study reported.

Blueprint requires quadruple fund allotment.

As per the study, the outlined plan would require a hefty allotment to meet the targeted percentage of solar energy resourcing. Approximately, a quadruple budget sanction will be required annually to induce newer solar panel installations. As per a CNBC report, the fall in costs and supportive policies like tax incentives has offered a considerable boost to the solar power industry in the last decade.

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