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Market Research Report
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1004717

The Post-Coronavirus Recovery: North America Power and Renewables April 2021 Short-Term Outlook

Published: | Greentech Media Inc. | Delivery time: 1-2 business days

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The Post-Coronavirus Recovery: North America Power and Renewables April 2021 Short-Term Outlook
Published: May 10, 2021
Greentech Media Inc.
Delivery time: 1-2 business days
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Report Summary:

Power markets are generally seeing a continuing return to normal as they shake off the lingering impacts from last year: - Average daily demand in April was 5% higher than the same time last year. Cumulative average daily demand between January and April for 2021 has returned to pre-pandemic levels. - While still facing increasing amounts of coal retirement announcements, or announcements that plants will be retired sooner (one recent IRP called for an additional 4.6 GW), coal generation looks to recover from 2020 levels, aided by this year's winter weather, higher gas prices, and the improving demand outlook. For natural gas, overall we see generation staying flat or somewhat lower than last year, due to the higher prices. - Finally, new renewable additions continue to boom, with particular concentrations in ERCOT, WECC, MISO and SPP. We expect close to 41.5 GW solar, wind and battery storage coming online in the next three years.