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RSS feed source: US Energy Information Administration

In-brief analysis

January 15, 2025

In our January 2024 Short-Term Energy Outlook, which includes data and forecasts through December 2026, we forecast five key energy trends that we expect will help shape markets over the next two years.

Electricity consumption will start growing, driven by new demand sources
After almost two decades of relatively little change, electricity consumption grew by 2% in 2024, and we forecast it will continue growing by 2% in both 2025 and 2026, mostly as a result of demand from new semiconductor and battery manufacturing factories and from data centers.

Solar power will supply most of the increase in electricity consumption

Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), January 2025
Note: Battery storage net generation is close to zero, reflecting the net effect of charging and discharging.

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