Future of the United States energy market Future of the United States energy market http://www.federatedinvestors.com/static/images/fhi/fed-hermes-logo-amp.png http://www.federatedinvestors.com/daf\images\insights\infographic\power-lines-small.jpg April 22 2022 April 18 2022

Future of the U.S. energy market

Demand for power continues to climb.

Published April 18 2022
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Future of the U.S. energy market alt text Title: Future of the U.S. energy market Published: April 14, 2022 Future of the U.S. energy market. Demand for power continues to climb. 3,930 billion kilowatt-hours in 2021. Increase to 3, 992 billion kilowatt-hours in 2022. Increase again to 4,031 billion projected kilowatt-hours in 2023. Traditional energy sources to lose market share. Natural gas to decline as price rises. 37% in 2021. Decrease to 36% in 2022. Drop to a projected 35% in 2023. Coal to decline compared to alternative sources. 23% in 2021. Drop to 22% in 2022. Decrease to a projected 21% in 2023. Nuclear to grow as technology and safety improve. Generated 10% of the world’s electricity in 2020. Could contribute up to a projected 12% of global electricity by 2050. Expected to increase from 393 gigawatts by 2020 up to a projected 792 gigawatts by 2050. Renewable energy market expected to grow from $880 billion to $2 trillion by 2030. Renewable sources generated 20% of U.S. electricity in 2020. U.S. electricity generation by projection by 2050 are solar at 22% then wind 14% and hydro 5%. Information Sources: Forbes, March 2022; Reuters, March 2022; International Atomic Energy Agency, September 2021; U.S. Energy Information Administration, June 2021; U.S. Energy Information Administration, March 2022; U.S. Energy Information Administration, March 2021.