From 2013 to 2023, coal consumption in the US experienced a clear downward trend, with the value standing at 8.52 Exajoules in 2023. The year-on-year variations highlight significant declines, particularly in 2015, 2019, and 2020, with notable troughs in 2019 (-14.61%) and 2020 (-18.87%). Although there was a brief uptick in 2021 at 14.9%, the overall trend remained negative. The compounded annual growth rate (CAGR) over the last five years is -8.51%.
Looking ahead into the forecast period (2024-2028), the consumption of coal is expected to continue its decline, with a forecast CAGR of -7.1%, resulting in a 30.82% decrease in consumption over the next five years.
Future trends to watch for:
- Increasing regulatory pressures and environmental concerns accelerating the shift from coal to renewable energy sources.
- Technological advancements in alternative energy solutions reducing the cost and increasing the adoption of these technologies.
- Policy shifts and government incentives aimed at reducing carbon emissions to meet climate goals, further diminishing coal usage.
