Investment house Morgan Stanley predicts that coal will disappear from the U.S. grid by 2033 as the pursuit of carbon-free energy gains momentum.
Fossil fuels will be largely supplanted by renewables, which will account for 39 percent of U.S. electricity and 55 percent in 2035, Morgan Stanley said in a report.
The change will come as more states enact laws requiring energy companies to get rid of their carbon footprint.
Last year, coal accounted for about 20 percent of the electricity generated in the United States.
The Energy Department forecasts that this figure could rise to 22 percent in 2021 as rising natural gas prices force energy companies to change their fuel composition.
But short-term growth will not overcome the global shift towards cleaner energy sources – a trend that is gaining momentum thanks to President Joe Biden’s pledge to put the United States on the path to an all-green energy system.