Declining capital costs for solar panels, wind turbines, and battery storage, as well as government subsidies such as those included in the Inflation Reduction Act (IRA), result in renewables becoming increasingly cost effective compared with the alternatives when building new power capacity. Renewables are increasingly meeting power demand throughout the projection period (Figure 2). Natural gas, coal, and nuclear generation shares decline. Renewable power outcompetes nuclear power, even in the Low Zero-Carbon Technology Cost (ZTC) case, which evaluates the impact of more aggressive cost declines for nuclear and renewables than the reference case. Most natural gas-fired generation comes from combined-cycled power plants as opposed to simple-cycle combustion turbines.