Electricity

1 ElectricitySource: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) Electricity generation and shares from selected fuels and renewable sources201,0002,0003,0004,0005,0006, Electricity generation from selected fuels AEO2022 Reference casebillion kilowatthoursnatural gasrenewablesnuclearcoal37%21%19%23%34%4 4%12%10%05001,0001,5002,0002,5003, renewable Electricity generation, including end useAEO2022 Reference casebillion kilowatthours2021historyprojectionssolar windgeothermalhydroelectricother19%43%2% 30%7%46%51%31%12%2%4%Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) Electricity demand3-2%-1%0%1%2%3%4%5% Electricity use growth rate,three-year rolling averageAEO2022 economic growth casespercentage growth 2021historyprojectionsHigh Economic GrowthReferenceLow Economic Growth04008001,2001,6002, use by end-use sector AEO2022 Reference case billion kilowatthoursonsite generationpurchased electricityresidential industrialcommercial transportationNote: Onsite generation is Electricity produced onsite for own.

2 Energy Information Administration, Annual Energy Outlook 2022(AEO2022) ,0001,5002,0002,5003,0001990201020302050 2021history projectionsnatural gascoalnuclearrenewablesReference casebillion kilowatthours05001,0001,5002,0002,5003,0 00201020202030204020502021projectionsLow Oil and Gas Supply casebillion kilowatthoursrenewablesnatural gasnuclearcoal05001,0001,5002,0002,5003, 000201020202030204020502021projectionsHi gh Oil and Gas Supply casebillion kilowatthoursrenewablesnatural Electricity generation levels from selected fuels and renewable Electricity generation, AEO2022 oil and gas supply casesNote: Renewables category includes Electricity generation from wind, solar, hydroelectric, geothermal, wood, and other biomass sources. 4 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) ,0001,5002,0002,5003,0003,50020102020203 0204020502021projectionsHigh Renewables Cost casebillion kilowatthoursnatural gasnuclearcoal05001,0001,5002,0002,5003, 0003,500201020202030204020502021projecti onsLow Renewables Cost casebillion kilowatthoursrenewablesnatural gasnuclearcoal05001,0001,5002,0002,5003, 0003,50019902010203020502021history projectionsnatural gascoalnuclearrenewablesReference casebillion Electricity generation levels from selected fuels and renewable Electricity generation, AEO2022 renewables cost casesNote: Renewables category includes Electricity generation from wind, solar, hydroelectric, geothermal, wood, and other biomass sources.

3 5 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) and natural gasnuclearcoaladditionsretirementsAnnual Electricity generating capacity additions and retirementsAEO2022 Reference casegigawattsSource: Form EIA-860M, Monthly Update to the Annual Electric Generator Report, August retiring and new generating capacity6 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) cumulative retiring and new generating capacity 3210727138174082824973794339416486217104 47761438670327903006009001,2001,500 Cumulative Electricity generating capacity additions and retirements (2022 2050)AEO2022 selected casesgigawattsadditionsReference caseLow Oil and Gas Supply caseHigh Oil and Gas Supply casesolarwindoil andnatural gasnuclearothercoal222 Low Renewables Cost caseHighRenewables Cost case2-19-6-49-58-13-105-81-127-126-100-5 0-62-48-50-47-1-1-1-1-1-3000retirements7 2 Source.

4 Energy Information Administration, Annual Energy Outlook 2022(AEO2022) cumulative capacity additions and retirements8 ERCOTMid-ContinentCAISOWestPJMN ortheastSoutheastCAISO ERCOT Mid-C Northeast PJM Southeast West050100150200250 Regional cumulative Electricity generating capacity additions and retirements (2021 2050)AEO2022 Reference casegigawatts-500additionsotherdiurnal storagesolarwindnuclearoil & gascoalretirementsUS02004006008001,0001, 200-200-1000 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) prices by components and long-term average Electricity of Electricity Prices AEO2022 Reference case2021 cents per average Electricity priceAEO2022 selected cases2021 cents per kilowatthour2021historyprojectionsLow Oil andGas SupplyHigh Renewables CostReferenceLow Renewables CostHigh Oil and Gas Supply9 Source.

5 Energy Information Administration, Annual Energy Outlook 2022(AEO2022) storage Hybrid versus stand-alone solar PV and energy storage storage energy capacity, electric power sector AEO2022 Reference casebillion solar photovoltaic(PV) generating capacity, all sectors AEO2022 Reference casegigawatts010020030040050060020202025 20302035204020452050hybrid solar PV, electric power sectorstand-alone solar PV, end use 10stand-alone solar PV, electric power sectorSource: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) capacity by source and regionHC = High Renewable Cost; LC = Low Renewable Cost; HOGS = High Oil & Gas Supply; LOGS = Low Oil & Gas Supply; other = geothermal, biomass, municipal waste050100150200250300350 HistoryHCHOGSR eferenceLOGSLCH istoryHCHOGSR eferenceLOGSLCH istoryHCHOGSR eferenceLOGSLCH istoryHCHOGSR eferenceLOGSLCH istoryHCHOGSR eferenceLOGSLCH istoryHCHOGSR eferenceLOGSLCH istoryHCHOGSR eferenceLOGSLCT otal renewables capacityin all sectors,2019 (history) and 2050 AEO2022 selected side casesgigawattsNortheast PJM Southeast Mid-Continent ERCOTCAISOW estsolar photovoltaic, electric power sectorstand-alone energystoragesolar photovoltaic, end useotheronshore windhydrooffshore windERCOTMid-ContinentCAISOWestPJMN ortheastSoutheast11 Source.

6 Energy Information Administration, Annual Energy Outlook 2022(AEO2022) = natural gas combined cycle, PV = solar photovoltaicEconomic cost competitiveness of generating technologiesregions with builtcapacityregions with no builtcapacityEconomically attractive builds are shown above the diagonal breakeven line for each solid, colored circles on the figure indicate that projects tend to be built in regions where revenue (LACE) exceeds costs (LCOE).Levelized avoided cost of Electricity (LACE) and levelized cost of Electricity (LCOE) by technology, 2027 online year, AEO2022 Reference case2021 dollars per megawatthour12 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) renewable portfolio standards13solarwindhydroelectricother renewablesnuclearrequired compliant generation 05001,0001,5002,0002,5003,00020222030204 02050 Note: Other renewables includesfuel cells, municipal solid waste, geothermal, wood and other biomass.

7 Solar includes solar thermal and end-use solar. Other end-use sector renewables not included in totalsTotal qualifying carbon-free generation required for combined state renewable portfolio and projected total generation from technologies, 2022 2050billion kilowatthours(bkWh)Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) Oil and Gas SupplyReferenceHigh Oil and Gas Supply-8-6-4-202420152020202520302035204 020452050additionsretirementsassumed upratesnew reactorsactual or nuclear Electricity generating capacityAEO2022 oil and natural gas supply casesgigawattsYear-over-year nuclear capacity changes AEO2022 Reference nuclear capacity and annual capacity changes14 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) coal-fired generation, capacity, and capacity factors01,0002,0003,0004,000050100150200 2503003502000201020202030204020502021his toryprojectionsLow Oil and Gas SupplyReferenceHigh Oil and Gas electric generating Electricity capacitygenerationAEO2022 oil and natural gas supply casesgigawatts bil lion kilowatthourscoal-fired generationcoal-fired capacity0%20%40%60%80%100% capacityfactor for coal-fired generationAEO2022 oil and natural gas supply casespercentage2021historyprojectionsLow Oil and Gas SupplyReferenceHigh Oil and Gas Supply15 Source.

8 Energy Information Administration, Annual Energy Outlook 2022(AEO2022) $0$5$10$15$20$25$30$35050100150200250300 3502000201020202030204020502021 history projectionsnatural gas pricescoal-fired capacityLow Oil and Gas supplyReferenceHigh Oil and Gas electric generating capacity AEO2022 oil and gas supply casesgigawattsAverage delivered natural gas prices to the electric power sector2021 dollars per million british thermal coal-fired generating capacity relative to natural gas prices16 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) ,0001,20020102030205002004006008001,0001 ,20020102030205002004006008001,0001, coal production by region, AEO2022 oil and gas supply casesReference casemillion short tonsLow Oil and Gas Supply casemillion short tonsCoal production by regionHigh Oil and Gas Supply casemillion short tonstotalWestAppalachiaInterior2021proje ctions2021projections17 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) combined cycle (natural gas)coalexisting combined cycle (natural gas)oil and natural gas steamcombustionturbine (natural gas)2021historyprojectionsCapacity factor for fossil fuel-fired plants AEO2022 Reference casepercentageNote.

9 New combined-cycle (natural gas) plants are assumed to come online in 2023. New builds as shown are multi-shaft combined-cycle units. Existing combined cycle units include both multi-shaft and single-shaft; 12 gigawatts of new single-shaft combined-cycle units are included in fossil fuel-fired plant capacity factors18 Source: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) Electricity generation by source19 Hourly Electricity generation and load by fuel for selected cases and representative yearsbillion kilowatthoursAEO2022 Reference case, 2021 AEO2022 Reference case, 2050 AEO2022 Low Renewables Cost case, 2050hour of the day-50050100150200250300159131721load159 131721load159131721loadcurtailmentbatter y storage pumped storage solarwind hydroelectric naturalgas combined-cyclenaturalgas and oil peakersnuclearcoalNote.

10 Negative generation represents charging of energy storage technologies such as pumped hydro and battery storage. Hourlydispatch estimates are illustrative and are developed to determine curtailment and storage operations; final dispatch estimates are developed separately and may differ from total utilization as this figure shows. Solar includes both utility-scale and end-use photovoltaic Electricity generationSource: Energy Information Administration, Annual Energy Outlook 2022(AEO2022) Electricity generation by source20 Hourly Electricity generation and load by fuel type and season in 2050 AEO2022 Reference casebillion kilowatthourswintersummerspringand fallhour of the day-250255075100125150159131721159131721 159131721loadloadloadcurtailmentbattery storage pumped storage solarwind hydroelectric naturalgas combined-cyclenaturalgas and oil peakersnuclearcoalSource.