IIR Webinar: North American Power Capacity Closures Motivate New Power Generation
Since 2010, the U.S. and Canada have seen the closure of fossil-fuel-fed and nuclear power facilities to the tune of about 85 gigawatts (GW), which provides the main motivation for new-build power generation projects now under construction or in the planning phases, according to Britt Burt, Industrial Info’s vice president of Global Research-Power Industry. Burt speaks about the trends in North American power project construction in a complimentary online webinar.
Coal-fired power accounts for about 50 GW of the generation capacity that has closed since 2010, according to Burt, and Industrial Info is tracking an addition 27 GW of capacity that is scheduled for closure between now and the end of 2020. On top of that, some 10 GW of nuclear power capacity is slated for closure by the end of 2020, he says.
The closures are the prime drivers behind new-build activity (grassroot, brownfield and unit additions) in North America, as overall demand remains flat, according to Burt. There are 386 high-probability power projects in the U.S. and Canada that are scheduled to start construction between now and the end of 2020, Burt says. One of the key areas of development is in wind energy, which currently accounts for 10% of North America’s energy supply, with some “very aggressive plans” to increase this portion to 20%.
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