All this progress, however, could be derailed without a massive overhaul of America’s antiquated electric infrastructure – a task some industry experts say requires more than $2 trillion.

In April, AEOI head Mohammad Eslami unveiled a Comprehensive Strategic Document of Iran’s Nuclear Industry which envisages the generation of 10,000MW of nuclear electricity.

A requirement to function through a 10-day period of low/no wind and solar and to recharge storage over the succeeding 10-day period, with a 20% capacity reserve margin, would require renewable generating capacity approximately 2.4 times peak demand on the grid.

The German year-ahead baseload traded as high as Eur197.75/MWh, a new high for the 2023 contract, while year-ahead coal into Europe traded at $230/mt, EEX and ICE exchange data showed.

Wind turbines last Tuesday generated over 2,000 gigawatt-hours of electricity, edging out electricity generated by nuclear and coal (but still trailing behind natural gas).

China will pursue its strategy to reduce the share of coal in its energy consumption, aiming to reach 17.3% of non-fossil energies in its total energy consumption in 2022, up from 16% in 2020.

The Biden administration has set a goal of a carbon-free electric sector by 2035.

Customers get a cost-effective way to generate their own power, a source of backup power in the event of grid outages, and payment for power they send back to the grid.

The state government of Karnataka (India) has proposed the construction of a 2 GW underground electricity storage project in the Sharavathi basin for an investment of INR53.9bn (US$700m).

Combined, solar and wind grew by 15.96% and accounted for more than one-eighth (13.05%) of U.S. electrical generation (wind - 9.12%, solar - 3.93%).