US demand for renewable energy is forecast to reach 12.6 quadrillion British thermal units (Btu) in 2021, according to Renewable Energy: United States, a report recently released by Freedonia Focus Reports. Demand for solar energy is forecast to rise 20% per year, the fastest among the resource segments. Government incentives and renewable portfolio mandates will propel rapid expansion in solar energy production capacity and demand. In addition, falling component prices and suppliers' improving installation experience are deflating project costs.
Demand for wind energy is forecast to expand 7.2%, the second fastest among resource segments. Heavy investment in the segment – spurred by government incentives and technology developments – will continue to drive the expansion of wind energy capacity for electricity generation.
These and other key insights are featured in Renewable Energy: United States. This report forecasts US renewable energy demand and production in Btu to 2021. Total demand is segmented by resource in terms of:
- wood and waste biomass
Total demand is also segmented by market as follows:
- electric power
To illustrate historical trends, total demand, production, and the various segments are provided in annual series from 2006 to 2016.