US power consumption to reach record highs in 2024 and 2025: EIA
![US power consumption to reach record highs in 2024 and 2025: EIA](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/03/22792.jpg)
According to the US Energy Information Administration’s Short-Term Energy Outlook released on Tuesday, power consumption in the United States is set to reach unprecedented levels in 2024 and 2025.
The EIA projects that demand will increase to 4,099 billion kilowatt-hours (kWh) in 2024 and 4,128 billion kWh in 2025, surpassing the 4,000 billion kWh recorded in 2023 and the previous record of 4,003 billion kWh in 2018.
This surge in power usage is attributed to a shift towards electricity usage for heating and transportation, replacing traditional fossil fuels.
The EIA forecasts that 2024 residential power sales will reach 1,511 billion kWh, commercial customers will consume 1,396 billion kWh, and industrial customers will use 1,042 billion kWh.
Also read: Bank of America expands energy transition business amid rising demand
The proportion of renewable energy generation is projected to increase from 21% in 2023 to 24% in 2024 and further to 25% in 2025. Meanwhile, the share of nuclear power will remain steady at 19% throughout 2023, 2024, and 2025.
The EIA anticipates that in 2024, gas sales will climb to 12.41 billion cubic feet per day (bcfd) for residential consumers, 9.17 bcfd for commercial customers, and 35.98 bcfd for power generation.
However, they are expected to decrease to 23.19 bcfd for industrial customers.
These figures contrast with historical peaks of 14.32 bcfd in 1996 for residential consumers, 9.63 bcfd in 2018 for commercial customers, 23.80 bcfd in 1973 for industrial customers, and 35.43 bcfd in 2023 for power generation.
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