CLEVELAND, Dec. 4, 2017 /PRNewswire/ -- 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.
More information about the report is available at https://www.freedoniafocusreports.com/Renewable-Energy-United-States-FF45041/
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
- hydropower
- biofuels
- wind
- solar
- geothermal
Total demand is also segmented by market as follows:
- electric power
- industrial
- transport
- residential
- commercial
To illustrate historical trends, total demand, production, and the various segments are provided in annual series from 2006 to 2016.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Energy and Resources reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
Press Contact:
Corinne Gangloff
+1 440.684.9600
cgangloff@freedoniagroup.com
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SOURCE The Freedonia Group
