Renewables account of two-thirds of new power projects in the US

According to a new report by a US government agency, wind turbines and solar panels accounted for an impressive two-thirds of all new electric generation capacity added to the country's capacity during the year 2015.

The analysis form the U.S. Department of Energy showed that the renewable sources of energy are the choice for the majority of the new power projects in the country. The analysis also showed that the remaining third of the project was largely new power plants fuelled by natural gas.

This is the second year in a row when the investment in renewable energy projects was higher than that of fossil fuels and a high level of growth is also predicted for the current year. The analysis showed that Texas, Oklahoma and Kansas led the nation in new wind projects. California and North Carolina were the leading destinations for solar projects in the country.

The cost of emissions-free wind energy has declined by two-thirds in the previous six years mainly due to the availability of cheaper, more efficient turbines. Experts said that billions of dollars in private equity will be invested in massive new renewables projects across the country as the world's largest economy moves towards renewable sources of energy to generate power. However, there is along to way to go as the total energy from such renewable sources as wind, solar and water accounted for only about a tenth of total power generation in the United States in 2015.