The share of renewable electricity generation in the US has seen a steady upward trend from 2013 to 2023, starting at 12.64% in 2013 and reaching 15.25% in 2023. Year-on-year growth has generally slowed over this period, with the most recent year-on-year increase at 1.58%. The Compounded Annual Growth Rate (CAGR) over the last five years, leading up to 2023, stands at 1.7%. Looking forward, forecasts predict a continued rise, with renewable electricity generation expected to reach 16.36% by 2028. However, the forecasted CAGR declines to 1.12%, suggesting a tapering growth rate.
Future trends to watch for include:
- Technological advancements and decreasing costs in renewable energy sources such as wind and solar.
- Policy and regulatory changes at federal and state levels that could incentivize or mandate greater renewable energy adoption.
- Investment trends and private sector commitments towards sustainability and renewable energy projects.
- Potential impacts of energy storage technologies and grid modernization on the integration of renewables.
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