Forecast: Renewable Energy Supply in the US

Between 2013 and 2023, the renewable energy supply in the US saw a general upward trend, with total primary energy supply value increasing from 6.78 to 8.12. The period experienced fluctuations, with notable peaks in 2020 (6.71% increase) and dips in 2021 (-5.1%). The year-on-year variation declined significantly towards 2023, with growth rates falling from 5.44% in 2013 to 0.25% in 2023. The five-year CAGR shrank from 5.98% to 0.86%, demonstrating a slowdown in growth. Future forecasts (2024-2028) predict minimal annual growth, pegged at a 0.1% CAGR.

Future trends to watch for:

  • Technological advancements in renewable energy production, optimally wind and solar.
  • Changes in government policies and incentives impacting renewable energy investment.
  • Emerging trends in energy storage and grid modernization to accommodate fluctuating renewable sources.

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