Electricity in the U.S.
Electricity demand in the U.S. is expected to hold steady for the foreseeable future; this according to a recent International Energy Agency (IEA) report. For the first time in more than 60 years of monitoring energy consumption, the growth in power usage will be nearly flat over the next few years. In addition, demand is expected to increase by a scant .5 percent annually for the next two decades.
Reasons for this leveling off of demand – and some experts even project a decrease – are due to several factors. For one, energy efficiency efforts both here in the U.S. and in developed countries around the world are beginning to bear fruit. Use of energy efficient lighting and home appliances mean that the average household is consuming less electricity than it used to, even as the use of electronic devices has increased.
In addition, there is an awareness on the part of at least some Americans that reducing our energy consumption is the right thing to do for the planet. Many households are switching to renewable energy sources in the form of solar PV panels for generating their own electricity. While currently still a drop in the bucket, power from renewable sources makes up a growing percentage of energy use. When you add in the slow economic and job growth we’ve experienced in recent years, the demand decay for electricity begins to make sense.