Energy consumption in the U.S., which has slowed recently, is projected to inch up by only 0.3% per year through 2040, which would be less than half the projected population growth rate over that period.
In its Annual Energy Outlook 2015, the U.S. Energy Information Administration (EIA) elaborates that industrial energy consumption over the next 25 years will be slightly higher, at 0.7% per year, while annual commercial consumption is expected to be 0.5%.
EIA attributes these consumption reductions to the adoption of energy efficient technologies, as well as “larger structural changes in the economy.” For example, residential consumption has slowed as more people have moved to warmer climates. And policies that have mandated better fuel efficiencies in cars and trucks appear to be having a positive effect.
“These standards, combined with less travel in response to technological and social factors, have reduced transportation energy consumption in recent years and are expected to continue holding transportation consumption nearly flat in the coming decades,” EIA observes.
The department points to several factors that are expected to shape U.S. energy markets in the next generation. These include:
- Growth in U.S. energy production, coupled with only modest increases in domestic demand, will further reduce the country’s reliance on imported energy suppliers. EIA anticipates that energy imports and exports “come into balance” in the U.S. starting in 2028.
- The U.S. will transition from being a modest net importer of natural gas to a net exporter by 2017, with net exports in 2040 ranging from 3 trillion cubic feet (in a low-oil-price scenario) to 13.1 million (in a high oil and gas resource scenario).
- Rising costs for electric power generation, transmission, and distribution, along with slower growth in electricity demand, are expected to lead to an 18% increase in the average retail price of electricity between 2013 and 2040.
- End-user efficiencies are expected to keep energy related carbon dioxide emissions in the U.S. below 2005 levels through 2040.
EIA expects net energy exports to contribute more to the country’s GDP growth than it has in the previous 30 years, partly because of reduced imports. But that impact is also expected to diminish in the later years of this projection cycle, as GDP growth in nations that are U.S. trade partners slows.
Related Stories
| Mar 21, 2012
Clary, Hendrickson named regional directors for HDR Architecture
New directors will be responsible for expanding and strengthening the firm throughout the central region.
| Mar 20, 2012
FMI releases 2012 first quarter construction outlook
The last time construction put in place was at this level was 2000-2001.
| Mar 20, 2012
Ceco Building Systems names Romans marketing director
Romans joins Ceco Building Systems with over 15 years in marketing and customer service.
| Mar 20, 2012
UT Arlington launches David Dillon Center for Texas Architecture
Symposium about Texas architecture planned for April.
| Mar 20, 2012
Stanford’s Knight Management Center Awarded LEED Platinum
The 360,000-sf facility underscores what is taught in many of the school’s electives such as Environmental Entrepreneurship and Environmental Science for Managers and Policy Makers, as well as in core classes covering sustainability across the functions of business.
| Mar 20, 2012
New office designs at San Diego’s Sunroad Corporate Center
Traditional office space being transformed into a modern work environment, complete with private offices, high-tech conference rooms, a break room, and an art gallery, as well as standard facilities and amenities.
| Mar 19, 2012
Obama’s positioned to out-regulate Bush in second term
Proposed ozone rule would cost $19 billion to $90 billion in 2020, according to the White House.
| Mar 19, 2012
Skanska promotes Saunders to VP/GM of Bayshore Concrete Products
During his more than 13 years with Bayshore, Saunders has provided products for Victory Bridge in New Jersey, Route 52 Causeway in Ocean City, N.J., and for numerous piers at Naval Station Norfolk and the Norfolk Naval Shipyard.
| Mar 19, 2012
Smith Carter joins forces with Genivar
Smith Carter has a workforce of some 190 employees and designs complex buildings in challenging environments.
| Mar 19, 2012
HKS Selected for Baylor Medical Center at Waxahachie
Baylor Medical Center at Waxahachiewill incorporate advanced technology including telemedicine, digital imaging, remote patient monitoring, electronic medical records and computer patient records.
