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US was top producer of petroleum and natural gas in 2020

According to the EIA reports, in 2020 the US was the number 1 producer of natural gas as well as petroleum on global level. That tendency started in 2014, in spite of year-on-year falls from noteworthy-high production in 2019.In 2020, US natural gas and petroleum production summed around 66.9 quadrillion British thermal units (quads) that closely meet the total as Saudi’s 26.5 quads and Russia’s 45.5 quads of production of natural gas and petroleum together at 72 quads.

The production of Natural gas and petroleum dropped all three major petrol producing countries in 2020 due to a sudden demand fall because of the COVID-19 pandemic and the resultant crude oil price drops, especially in the 2020’s first quarter. Russia and Saudi Arabia decided together to decrease their crude oil production as an element of an OPEC+ deal, but in US, fall in production was primarily due to price- persuaded drop in tense oil investments and unplanned outages on a small scale.

In the country, the per year capacity based average construction prices for solar PV systems started to fall in 2019, falling by only under 3%, as per the EIA‘s data on lately developed, utility-level electric generators.

In 2019, Solar construction costs rounded about USD1796 per kilowatt, which is a 2.8% decrease compared to that of 2018. The fall was propelled by dropping costs for crystalline silicon axis-based tracking panels, which in 2019 dropped to USD1497 per kilowatt.Out of all the solar technologies, crystalline silicon fixed-tilt panels hold the highest rank in cost in 2019, which was about USD2242 per kilowatt.

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