Existing power plants are projected to retire at a faster pace than installations of new units, and dependence on renewable projects are threatening widespread power shortages, according to a new report by regional power transmission company PJM Interconnection.
PJM analysis shows that 40 gigawatts (GW) of existing power generation is at risk of retirement by 2030, accounting for 21 percent of its current installed capacity. Meanwhile, 290 GW worth of new power supply is seeking to connect to PJM’s grid. But 94 percent of this power supply is made up of renewable energy projects that tend to only have a completion rate of 5 percent. This casts doubt on the ability of new power supply to replace old supply. PJM covers 13 eastern states and the District of Columbia.
