U.S. energy use to rise in 2022 as economic system continues to develop -EIA By Reuters

© Reuters. FILE PHOTO: A wind farm shares home with corn fields the day sooner than the Iowa caucuses, the place agriculture and clear vitality are key factors, in Latimer, Iowa, U.S. February 2, 2020. REUTERS/Jonathan Ernst

(Reuters) – U.S. power consumption will rise in 2022 and 2023 as a result of the monetary system grows, the U.S. Vitality Data Administration (EIA) acknowledged in its Temporary Time interval Vitality Outlook (STEO) on Tuesday.

The EIA projected power demand will climb to 3,995 billion kilowatt-hours (kWh) in 2022 and 4,040 billion kWh in 2023 from 3,930 billion kWh in 2021.

That compares with a coronavirus-depressed eight-year low of three,856 billion kWh in 2020 and an all-time extreme of 4,003 billion kWh in 2018.

EIA projected 2022 power product sales would ease to 1,468 billion kWh for residential clients, nevertheless rise to 1,358 billion kWh for industrial purchasers as further of us return to work in locations of labor and 1,022 billion kWh for industrials.

That compares with current all-time highs of 1,477 billion kWh in 2021 for residential clients, 1,382 billion kWh in 2018 for industrial purchasers and 1,064 billion kWh in 2000 for industrials.

EIA acknowledged ‘ share of power expertise will slide from 37% in 2021 to 35% in 2022 and 2023 as gasoline prices rise. Coal’s share, within the meantime, will keep at 23% in 2022, the an identical as 2021, sooner than sliding to 21% in 2023 as renewable output rises.

The proportion of renewable expertise will rise from 20% in 2021 to 22% in 2022 and 23% in 2023. Nuclear power will keep at 20% in 2022 and 2023, the an identical as 2021.

The corporate projected 2022 pure gasoline product sales would rise to 13.55 billion cubic ft per day (bcfd) for residential clients, 9.35 bcfd for industrial purchasers and 23.16 bcfd for industrials, nevertheless fall to 29.89 bcfd for power expertise.

That compares with all-time highs of 14.32 bcfd in 1996 for residential clients, 9.63 bcfd in 2019 for industrial purchasers, 23.80 bcfd in 1973 for industrials and 31.75 bcfd in2020 for power expertise.

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