Forecast: Renewable Energy Supply in the US

From 2013 to 2023, the renewable energy supply in the US has shown a consistent upward trend, increasing from 6.8 to 8.6 in Unit of Total Primary Energy Supply. Noteworthy annual growths include a 6.94% increase in 2017 and a 2.56% rise in 2019. However, growth rates have generally declined over the years, dropping to 1.18% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years to 2023 is 1.97%, indicating moderate growth. Forecasts suggest a continued rise, with an expected 9.4 by 2028 and a 5-year forecast CAGR of 1.33%.

Future trends to watch for:

• Technological advancements in renewable energy to enhance efficiency and reduce costs.
• Government policies and incentives that could accelerate adoption rates.
• Potential impacts of economic factors and energy market dynamics on renewable energy investments.