For many years natural gas and renewables gained market share in U.S. power at coal’s expense, but renewables are now growing enough to change that equation, Ben writes.

Driving the news: The federal Energy Information Administration projects that increased renewables output, mostly wind and solar, will reduce both coal and gas-fired generation’s share in 2023 and 2024.

Zoom in: EIA’s latest outlook sees wind and solar together rising to 16% of the U.S. power mix this year, while gas and coal’s market share decline slightly to 38% and 18%, respectively. The trend is expected to continue in 2024.

Yes, but: What actually happens depends on the weather and other forces.

What we’re watching: Even more aggressive deployment of renewables and other zero-carbon sources will be needed to meet the White House goal of 100% carbon-free power by 2035.