Forecast: Renewable Power Generation in the US

The renewable power generation in the US has seen consistent growth from 2013 to 2023. In 2023, it stood at 689.57 Terawatthours. The year-on-year variation has ranged between 6.41% and 16.61%, with the last two years reflecting increases of 8.25% in 2022 and 7.59% in 2023. The compound annual growth rate (CAGR) has fluctuated, showing a downward trend from 15.22% in 2013 to 8.83% by 2023. Despite the slowdown, the overall trajectory has been positive, indicating a robust growth pattern in renewable energy generation.

Looking ahead, forecasts for 2024 to 2028 suggest continued expansion but at a reduced pace with a 5-year CAGR of 4.71%. The total growth rate over these five years is projected at 25.9%, highlighting ongoing, albeit moderate, progress.

• Increased focus on renewable energy technologies.
• Potential policy changes and government incentives.
• Advancements in energy storage solutions.
• Impact of global energy market fluctuations.