Climate Adaptation
Coal to Exit From U.S. Power System by 2033, Morgan Stanley Says
- President Biden has called for carbon-free power grid by 2035
- ‘We continue to project a constant decline’ for coal
This article is for subscribers only.
Coal is on track to disappear from the U.S. power grid by 2033 as the push for a carbon-free electricity system gains strength, according to Morgan Stanley.
The fossil fuel will be supplanted largely by renewables, which will supply 39% of U.S. electricity in 2030 and 55% in 2035, according to a report Monday from Morgan Stanley. The shift comes as a growing number of states implement laws mandating utilities eliminate carbon emissions from their fleets.