US energy use to achieve file highs in 2024 and 2025, EIA forecast says

By Scott DiSavino

(Reuters) – U.S. energy consumption will rise to file highs in 2024 and 2025, the U.S. Power Info Administration mentioned in its Brief Time period Power Outlook on Tuesday.

EIA projected energy demand will rise to 4,086 billion kilowatt-hours in 2024 and 4,165 billion kWh in 2025. That compares with 4,012 billion kWh in 2023 and a file 4,067 billion kWh in 2022.

With rising demand from synthetic intelligence and information facilities and as properties and companies use extra electrical energy for warmth and transportation, EIA forecast 2024 energy gross sales will rise to 1,494 billion kWh for residential shoppers, 1,420 billion kWh for industrial prospects and 1,026 billion kWh for industrial prospects.

These forecasts examine to all-time highs of 1,509 billion kWh for residential shoppers in 2022, 1,408 billion kWh in 2023 for industrial prospects and 1,064 billion kWh in 2000 for industrial prospects.

EIA mentioned pure gasoline‘ share of energy technology would rise from 42% in 2023 to 43% in 2024 earlier than sliding to 40% in 2025. Coal’s share will ease from 17% in 2023 to fifteen% in 2024 and 2025, as renewable output rises.

The share of renewable technology will rise from 22% in 2023 to 23% in 2024 and 25% in 2025, whereas nuclear energy’s share will maintain at 19% in 2024 and 2025, the identical as 2023, in accordance with the vitality outlook.

EIA projected 2024 gasoline gross sales would ease to 12.1 billion cubic toes per day for residential shoppers and 23.3 bcfd for industrial prospects, maintain at 9.1 bcfd for industrial prospects and rise to 37.0 bcfd for energy technology.

That compares with all-time highs of 14.3 bcfd in 1996 for residential shoppers, 9.6 bcfd in 2019 for industrial prospects, 23.8 bcfd in 1973 for industrial prospects and 35.5 bcfd in 2023 for energy technology.