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EIA updates outlook on US electricity generation growth for 2024-25

Economy Materials 14 June 2024 14:21 (UTC +04:00)
Maryana Ahmadova
Maryana Ahmadova
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BAKU, Azerbaijan, June 14. The US Energy Information Administration (EIA) forecasts a 3-percent increase in US electricity generation in 2024, amounting to 130 billion kilowatt-hours (BkWh), Trend reports.

According to the agency's outlook, this growth will be followed by a 1-percent rise of 40 BkWh in 2025.

The EIA noted that the primary driver of this growth is renewable energy sources, notably solar power, which is expected to contribute more than 70 percent to the overall increase in US generation.

In 2024, solar energy is projected to account for 5 percent of total US electricity generation, a notable increase from its 4-percent share in 2023. By 2025, this share is anticipated to rise further to percent.

Meanwhile, wind power generation is also expected to grow, albeit at a slower pace compared to previous years, with a projected increase of 5 percent in 2024 and 3 percent in 2025. Despite these gains, wind power will maintain its share of total US generation at 11 percent throughout both years, consistent with its contribution in 2023.

The EIA's outlook underscores the ongoing expansion of renewable energy sources in the US electricity sector, reflecting broader efforts to diversify the nation's energy mix and reduce carbon emissions.

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