The Zacks Utility – Electric Power industry is involved in the generation, transmission, distribution, storage and sale of electricity to customers. A substantial portion of utilities’ earnings are generated from regulated operations. A clear transition is evident in this industry, with more companies declaring zero-emission goals. Research and development over the years have resulted in a substantial decline in the cost of setting up utility-scale renewable power projects, aiding in reducing emissions.
Per the U.S. Energy Information Administration, electricity production in the United States will increase 2.4% year over year in 2024 to 11.22 billion kilowatt hours per day. The increase in 2024 is primarily due to higher contributions from solar assets. Solar share in total generation is expected to touch 6% in 2024, with 36 gigawatts (GW) expected to be added to the generation mix.
In order to maintain, upgrade and expand…
