Per the U.S. Energy Information Administration report, the share of renewables in the U.S. electricity generation mix will increase from 21% in 2020 to 42% in 2050, with wind and solar being the major contributors. Many U.S. utilities have pledged to go carbon-neutral by 2050 and a few prominent utilities among them are Exelon Corporation EXC, FirstEnergy Corp. FE as well as Duke Energy DUK. The ongoing research and development in the utility space is substantially reducing the cost of operating utility-scale renewable projects and the development of large scale battery units is ensuring that clean electricity is supplied to end users from renewable sources on a 24x7 basis.