Forecast: Nuclear Energy Consumption in the US

Nuclear energy consumption in the US stood at 7.25 Exajoules in 2023. Over the last decade, consumption has seen fluctuations, with a general trend of decline from 7.82 Exajoules in 2013 to 7.25 Exajoules in 2023. The last two years reflect a decreasing trend with negative year-on-year variations: -1.39% in 2022 and -0.9% in 2023. The Compound Annual Growth Rate (CAGR) for the past five years has averaged -1.37%.

Forecasting into the future, a slow but steady decline is projected, with consumption expected to reduce to 6.96 Exajoules by 2028. The forecasted 5-year CAGR is -0.65%, indicating a modest annual decline. Watch for the following:

• Technological advancements in nuclear energy• Policy changes related to nuclear energy and overall energy mix• Market demand shifts toward renewable energy sources• Public perception and regulatory developments