Full Title: 2018 Sustainable Energy in America Factbook
Author(s): Bloomberg New Energy Finance & The Business Council for Sustainable Energy
Publisher(s): Bloomberg New Energy Finance & The Business Council for Sustainable Energy
Publication Date: 02/2018
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The 2018 Sustainable Energy in America Factbook is the sixth in a series documenting the revolution in energy production, delivery, and consumption in the U.S. This most recent installment surveys the landmark developments that took place in 2017 – a year in which the transformation of the U.S. energy sector rapidly intensified, even in the face of domestic policy uncertainty.
Renewable energy output in the power sector soared to a record high on the back of a boom year for new renewables
capacity additions, as well as the first full year of service for renewable facilities commissioned in 2016. Emissions from electricity production shrank as a result, achieving their lowest levels in at least two decades. At the same time, consumers are devoting less of their household spending towards electricity than at any other time on record. Power prices for industrial users also remained low, giving the U.S. a global competitive advantage in attracting energy-intensive industries.
The deployment of sustainable energy technologies has further supported a more productive U.S. economy. Economic growth picked up to an estimated 2.3%, even as energy consumption waned, reflecting the U.S.’s rising energy productivity. The renewables, energy efficiency, and natural gas sectors also supported the U.S. economy by providing jobs for roughly three million Americans.
Looking outward, the U.S. solidified its role as a global exporter of liquefied natural gas, for the first time spending every month of the year as a net exporter – rather than importer – of natural gas. And despite the federal government’s announcement to withdraw from the Paris Agreement on climate change, U.S. corporations, states, and cities came together to pursue a sustainable future under the We Are Still In initiative.
The Sustainable Energy in America Factbook provides a detailed look at the state of U.S. energy and the role that new technologies, such as batteries and smart thermostats, are playing in reshaping the industry. The Factbook is researched and produced by Bloomberg New Energy Finance and commissioned by the Business Council for Sustainable Energy. As always, the goal is to offer simple, accurate benchmarks on the status and contributions of new sustainable energy technologies.