The total support on natural gas for residential use in the U.S. is forecasted to decline significantly from 2024 to 2028. Starting at $843.47 million in 2024, it is expected to decrease to $360.84 million in 2028. This represents a year-on-year decrease, indicating a consistent downward trend. Looking backward, by comparison, the figure stood higher in 2023, suggesting a decrease into 2024. The compound annual growth rate (CAGR) over the next five years is negative, depicting an average decrease per year.
Future trends to watch for include:
- Shifts in energy policies promoting renewable energy sources.
- Technological advancements in energy efficiency reducing residential gas consumption.
- Impact of economic factors such as inflation on energy prices.
- Changes in consumer behavior towards more sustainable energy usage.