When you consider that electricity generation has dropped in recent years and that wind and solar are now more expensive than gas, you might expect that you’d see less demand for energy in the next few years.
That’s not what you see.
The Energy Information Administration (EIA) projects that demand for power will grow by just 3.3 percent annually until 2023.
That would be about the same as the 1.7 percent growth expected for electricity production and transmission.
That is far less than what many analysts predict, which is the peak demand in the United States for electricity in 2040, when the country will have a total of 1.2 billion people.
And even though wind and other renewables are now cheaper than gas and nuclear, the EIA projects that they will remain competitive for the foreseeable future.
Source: EIA Energy Outlook report, March 2018 Energy sources in this report are based on the most recent energy information released by the Energy Information Agency (EAA).
The EIA does not necessarily endorse the products or services of companies mentioned.
All views expressed in this article are those of the author and do not necessarily reflect the official position of the EAA, its board of directors or its management.