Annual Energy Outlook Delivers Great News for Energy Productivity
The energy efficiency industry can look forward to a great future! The U.S. Energy Information Administration (EIA) has released its Annual Energy Outlook 2015 presenting long-term projections for the U.S. energy markets. Every year, the report provides the basis for analysis of energy production, consumption, technology, market trends, policies and potential changes in the industry.
Amongst this year’s key findings, the report predicts slower growth of U.S. energy consumption. Energy demand is projected to increase by 24 percent (at a 0.3 percent per year) from 2013 to 2040, which it’s still far below economic (2.4 percent per year) and population growth (0.7 percent per year) rates. EIA attributes this trend to structural changes in our economy, market prices and saturation, advancement in technologies, existing standards and regulations, and overall improvements in energy efficiency.
However promising these findings may be for the U.S. energy market, even greater progress is possible. The Annual Energy Outlook makes its projections under the assumption that current laws and regulations remain unchanged throughout its timeline, which means even small policy changes supporting greater efficiency can have a positive impact on these projections.
With increased public and private support for campaigns like Accelerate Energy Productivity 2030, we’re hopeful EIA’s predictions will not only become a reality, but productivity estimates will be exceeded. The campaign engages state and local policymakers in order to bring us closer to the goal of doubling U.S. energy productivity by 2030. If achieved, we could save $327 billion a year, add 1.3 million jobs and cut carbon emissions by 33 percent. The report’s projections make us optimistic about the nation’s energy future and we look forward to continuing to work for the improvement of energy productivity.