Source: Bloomberg New Energy Finance

 

Consumers across the United States have seen flat or declining energy costs as renewable energy becomes a greater part of the nation’s energy mix, according to findings from Bloomberg New Energy Finance’s 2017 Sustainable Energy in America Factbook. The report points out that in the United States, renewable energy, greater energy efficiency and low natural gas and gasoline prices have combined to drive down energy costs – as a percent of total household spending – to its lowest level in decades. Energy spending in 2016 represented 3.9 percent of household expenditures, the first time ever the figure has dropped below 4 percent. The investments in clean energy made by utilities do not seem to have an impact on energy prices, contradicting dire predictions made by some opponents of clean energy policy in the past. Since 2007 the national economy has grown by 12 percent while energy demand has fallen by 3.6 percent, all while consumers across the nation are paying less per kilowatt-hour for electricity now than they did in 2007.

 

Source: Bloomberg New Energy Finance

– via Renewable Energy World / Frank Jossi

Share This