Renewable capacity additions, especially solar, will continue to drive the growth of US power generation over the next two years, according to the US Energy Information Administration (EIA).
According to its latest “Short-Term Energy Outlook” (STEO), the EIA expects that US utilities and independent power producers will add 26 gigawatts (GW) of solar capacity to the US electric power sector in 2025 and 22 GW in 2026.
Last year, the electric power sector added a record 37 GW of solar power capacity to the electric power sector, almost double the solar capacity additions in 2023. The EIA forecasts wind capacity additions will increase by around 8 GW in 2025 and 9 GW in 2026, slight increases from the 7 GW added in 2024.
Generating capacity for most other energy sources will remain mostly unchanged in 2025 and 2026. Natural gas-fired capacity growth slowed in 2024, with only 1 GW of capacity added to the power mix, but natural gas is still the largest source of US power generation.
The EIA forecasts that US coal retirements will accelerate, removing 6% (11 GW) of coal generating capacity from the US electricity sector in 2025 and removing another 2% (4 GW) in 2026. Last year, coal retirements represented about 3 GW of electric power capacity removed from the power system, which is the lowest annual amount of coal capacity retired since 2011.
The EIA expects that planned renewable capacity additions will support most of the growth in US electric power generation, which is anticipated to increase by 2% in 2025 and by 1% in 2026. The US electric power sector produced a total of 4,155 billion kilowatt-hours (kWh) of electricity in 2024, up 3% from 2023.
Natural gas. In 2024, US natural gas-fired power plants generated a total of 1,767 billion kWh, 4% more than in 2023. Natural gas-fired power accounted for around 42% of the US electricity mix, mostly unchanged compared with 2023. The EIA expects natural gas generation to decline in 2025 by 3% to 1,712 billion kWh and decrease a further 1% to 1,692 billion kWh in 2026.
Renewables. The EIA expects renewable power generation will increase by 12% in the US to 1,058 billion kWh in 2025 and increase a further 8% to 1,138 billion kWh in 2026. Renewable sources were the second-largest contributor to US power generation in 2024 and accounted for 945 billion kWh, up 9% from 2023.
Nuclear. The EIA forecasts that US nuclear power generation will grow 2% to 796 billion kWh in 2025 and increase a further 1% to 800 billion kWh in 2026. Nuclear power generation in 2024 was up slightly from 2023, totaling 781 billion kWh.
Coal. Coal electricity generation was 647 billion kWh in 2024. The EIA expects US coal power generation to remain unchanged at around 640 billion kWh in 2025 and 2026.
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Rivian founder and CEO RJ Scaringe has posted another interesting facet into the design of the American automaker’s upcoming R2 BEVs. As you’ll see below, the Rivian R2’s body harness has been significantly reduced in size, weight, and connections to enable lower assembly costs and an overall more environmentally friendly build.
If you’re not following RJ Scaringe on social media, you’re missing out. While some CEOs shy away from social media (aside from the guy who bought Twitter to create his own toxic echo chamber), Rivian’s founder has used such platforms to share interesting company progress.
In the past month, much of Scaringe’s content has pertained to the design and development of Rivian’s upcoming R2 model, and we have been all about it. In the past two weeks, RJ has shared a peek at the company’s new Maximus drive unit and photos of the R2 validation builds on a pilot line at the automaker’s facility in Normal, Illinois.
Last week, Scaringe took to Instagram and X once again to share a better look at the inner workings of the Maximus drive unit. The unit was designed to be more compact and efficiently built to help reduce the cost-per-unit production for the Rivian R2 assembly process.
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Today, RJ posted more evidence of how much more optimized components of the R2 design will be.
Source: @RJScaringe/Instagram
The body harness design of the R2 is significantly simpler
RJ posted the comparison image above to Instagram this afternoon, detailing just how much more streamlined the R2’s body harness design will be compared to the Gen 2 R1 BEVs. The Rivian CEO elaborated with the following caption:
The R2 harness improves massively over the R1 Gen 2 harness. Building on the backbone of our network architecture and zonal ECUs, we focused on ease of install in the plant and overall simplification through integrated design — less wires, less clips and far fewer splices!
Simplified indeed, this reimagined body harness cuts serious weight and connectors. The front section of the body harness, in particular, truly encapsulates just how streamlined the R2’s design components are becoming. A body harness pic may not be the most exciting news to the general public, but as a BEV enthusiast on the Rivian beat, it’s amazing to see, and we hope RJ will continue to post updates like this going forward.
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“We are going to allow you to buy it,” Dimon said at the bank’s annual investor day on Monday. “We’re not going to custody it. We’re going to put it in statements for clients.”
The decision marks a notable step for the largest U.S. bank, particularly due to Dimon’s history of criticizing the digital currency and the crypto market broadly, and is the latest sign of bitcoin’s entry into mainstream investing. Since August, Morgan Stanley has allowed its financial advisors to pitch some spot bitcoin exchange-traded funds to qualifying clients.
Dimon made it clear that his personal view of bitcoin remains unchanged, highlighting issues like money laundering and the lack of clarity surrounding ownership, along with “the sex trafficking, the terrorism.”
“I don’t think you should smoke, but I defend your right to smoke,” Dimon said. “I defend your right to buy bitcoin.”
A JPMorgan spokesperson declined to elaborate on the bank’s specific plans for bitcoin access. Until now, the company has limited its crypto exposure primarily to futures-based products, not direct ownership of bitcoin.
When crypto valuations were soaring in 2021, Dimon dismissed bitcoin as “worthless.” He told lawmakers during a Senate hearing in late 2023 that he’s “always been deeply opposed to crypto, bitcoin, etc.,” and that, “The only true use case for it is criminals, drug traffickers … money laundering, tax avoidance.” He said at the hearing that, “If I was the government, I’d close it down.”
At the 2024 World Economic Forum in Davos, Dimon said, “Bitcoin does nothing. I call it the pet rock.” He added that, “This is the last time I’m talking about the with CNBC, so help me God.”
Read more about tech and crypto from CNBC Pro
Morgan Stanley CEO Ted Pick told CNBC at this year’s event in Davos that the investment bank is exploring ways to deepen its involvement in cryptocurrency markets, navigating the regulatory landscape under the pro-crypto administration of President Donald Trump.
Since President Trump took office in January, the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency have rescinded their anti-crypto guidance. While banks can now custody crypto, thanks to the repeal of an accounting rule called SAB 121, they still face restrictions on working directly with crypto firms without explicit approval from the Federal Reserve.
Genesis is preparing to introduce its new flagship EV, the GV90. The brand’s largest, most luxurious electric SUV already looks stunning. The Genesis GV90 was spotted with less camo ahead of its debut, giving us a sneak peek of the “ultra-luxe” EV.
Genesis GV90 EV sheds camo during testing
We got our first look at the flagship Genesis model last March with the Neolun concept, a preview of its first full-size electric SUV.
Inspired by Korea’s iconic moon-shaped porcelain jars, the Neolun Concept is “the epitome of timeless design and sophisticated craftsmanship,” according to the luxury brand’s creative officer, Luc Donckerwolke. Genesis calls it “the ultra-luxe vision of luxury SUVs.”
The GV90 is not just a stunning-looking vehicle. It will also serve as a tech beacon for Genesis with Hyundai Motor’s most advanced software and tech, including a massive 24.6″ infotainment.
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This is all great, but the feature that caught the most attention was GV90’s coach doors. Ahead of its debut, we’ve seen the GV90 out in the wild for testing a few times, including with coach doors.
Genesis Neolun ultra-luxury electric SUV concept (Source: Genesis)
Genesis claims B-pillarless coach doors are now feasible in production vehicles, hinting they will be offered on the production model. However, the feature is expected to only be offered on higher-priced trims.
Most recently, the Genesis GV90 EV was caught by the folks at SH Proshots testing at the Nürburgring with notably less camo. The new images (via TheKoreanCarBlog) give us our best look at the flagship electric SUV, and it already looks like a stunner.
A few design elements, like the two-line LED headlamps, are shown, while you can see a good outline of the vehicle’s profile.
Like the concept, the GV90 appears to retain its minimalistic design shown in the Neolun concept. With an extended wheelbase, you can clearly see the size difference compared to its other EVs, like the GV60 or Electrified GV70.
The full-size electric SUV is expected to be the first Hyundai Motor model to ride on the new eM platform, which is set to replace the current E-GMP underpinning current Kia, Hyundai, and Genesis EVs.
Although production was slated to begin later this year at Hyundai’s Ulsan plant in South Korea, a recent report from The Korea Economic Daily claims Hyundai’s new development plan now calls for it to begin in June 2026.
Prices and final specs will be revealed closer to launch, but the GV90 is expected to start at around 100 million won ($80,000) in Korea. More premium trims could cost over 200 million won ($160,000).
Source: TheKoreanCarBlog, SH Proshots
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