SHORT-TERM ENERGY OUTLOOK – Renewables and Carbon Dioxide Emissions

Onyx Power and Gas Consulting continues a weekly series providing the Short Term Energy Outlook as of March 8th 2016.  This series of news articles should provide a complete insight on the current conditions of the energy…enjoy, check out archives and come back each week for additional information on how all sorts of energy sources impact our daily lives.

Renewables and Carbon Dioxide Emissions

Electricity and Heat Generation from Renewables

EIA expects total renewables used in the electric power sector to increase by 11.3% in 2016 and by 4.4% in 2017. Forecast hydropower generation in the electric power sector increases by 9.1% in 2016 and then falls by 0.6% in 2017. Generation from renewables other than hydropower is forecast to grow by 13.3% in 2016 and by 8.6% in 2017.

EIA expects that from 2015 to 2017, utility-scale solar photovoltaic (PV) capacity will grow by more than 13 gigawatts (GW). States leading in utility-scale solar capacity additions are California, Nevada, North Carolina, Texas, and Georgia. According to EIA’s Electric Power Monthly, in 2015 electricity generation from utility-scale PV exceeded generation from wind in California for the first time. Forecast utility-scale solar power generation averages 1.1% of total U.S. electricity generation in 2017.

Wind capacity, which starts from a significantly larger installed capacity base than solar, grew by 12% in 2015, and it is forecast to increase by 9% in 2016 and by 10% in 2017. In 2017, wind generation accounts for almost 6% of total generation.

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Liquid Biofuels

On November 30, 2015, EPA finalized a rule setting Renewable Fuel Standard (RFS) volumes for 2014 through 2016. EIA used these final volumes to develop the current STEO forecast and assumes the 2016 targets will also apply to 2017. However, EPA did issue a biomass-based diesel target for 2017 of 2.0 billion gallons, which EIA uses for this forecast. Ethanol production averaged almost 970,000 b/d in 2015, and it is forecast to average about 980,000 b/d in 2016 and 2017. Ethanol consumption averaged about 910,000 b/d in 2015, and it is forecast to average about 930,000 b/d in both 2016 and 2017. This level of consumption results in the ethanol share of the total gasoline pool averaging 10.0% in both 2016 and 2017. EIA does not expect significant increases in E15 or E85 consumption over the forecast period.

EIA expects the largest effect of the proposed RFS targets will be on biodiesel consumption, which helps to meet the RFS targets for use of biomass-based diesel, advanced biofuel, and total renewable fuel. Biodiesel production averaged 82,000 b/d in 2015 and is forecast to average 100,000 b/d in 2016 and 106,000 b/d in 2017. Net imports of biomass-based diesel are expected to rise from 29,000 b/d in 2015 to 42,000 b/d in 2016 and to 47,000 b/d in 2017.

Energy-Related Carbon Dioxide Emissions

EIA estimates that energy-related emissions of carbon dioxide decreased by 2.7% in 2015. Emissions are forecast to decrease by 1.5% in 2016, and then to increase by 1.4% in 2017. These forecasts are sensitive to assumptions about weather and economic growth.

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The professional consultants at Onyx Power & Gas Consulting are always ahead of the current issues that may affect energy consumption and pricing. Now is the time to partner with an Onyx professional consultant to discuss energy management and secure energy prices based on today’s stable pricing.  Volatility in the energy markets makes it too precarious to take chances.  Partner with Onyx Power & Gas in Making Energy Make a Difference!

 

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