Forecast: Fossil Fuel Energy Consumption in the US

Between 2013 and 2023, fossil fuel energy consumption in the US has shown a declining trend, moving from 82.94 to 80.86 Units of Total Energy Consumption. The year-on-year variations consistently show a decrease, with a maximum decline of 0.8% in 2015 and a minimum of 0.14% in 2016. Over the last five years leading up to 2023, the compound annual growth rate (CAGR) averages at -0.25%.

Forecasts from 2024 to 2028 predict a continued decline in consumption, with a total decrease of roughly 1% over this period, and an average annual decline of -0.2%. This indicates a sustained, though modest, reduction in the reliance on fossil fuels.

Future trends to watch for include technological advancements in renewable energy, regulatory changes, and shifts in consumer preferences towards more sustainable energy sources. Keeping an eye on innovations in energy storage and efficiency could also significantly impact fossil fuel consumption patterns.