The U.S. Energy Information Administration (EIA) reported in its Short Term Energy Outlook (STEO) that U.S. electricity consumption will rise to record highs in 2024 and 2025.
EIA projects electricity demand will increase to 4,093 billion kilowatt-hours (kWh) in 2024 and 4,163 billion kWh in 2025.
With increasing demand from artificial intelligence and data centers, as well as homes and businesses using more electricity for heating and transportation, EIA, citing Reuters.com, forecasts that electricity sales in 2024 will rise to 1,503 billion kWh for residential consumers, 1,412 billion kWh for commercial customers, and 1,033 billion kWh for industrial customers.
EIA revealed that the share of natural gas in electricity generation will remain at 42% in 2024, before dropping to 39% in 2025. The portion of coal will decrease from 17% in 2023 to 16% in 2024 and 2025, as renewable energy production increases.
Renewable electricity generation is predicted to rise from 21% in 2023 to 25% in 2025, while nuclear energy will remain stable at 19%.
EIA expects natural gas sales in 2024 to decline for residential and industrial consumers but increase for commercial customers and power generation.
Historical records include peak gas usage for residential consumers in 1996, commercial consumers in 2019, industrial consumers in 1973, and power generation in 2023.
