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Europe, Latin America, the Middle East, and North Africa are among the fastest-growing markets for renewable energy, driven in large part by growth in solar and wind-energy installations. U.S. Market Fossil fuels have historically supplied the majority of the energy consumed in the United States. In 2012, U.S. consumption of renewable energy totaled 9 quadrillion British thermal units (BTUs),12 or about 9 percent of total U.S. energy consumption (figure 2.3), up from 6.5 percent in 2007.13 In comparison, petroleum, natural gas, and coal still collectively accounted for over four-fifths of U.S. energy consumption in 2012. In recent years, consumption of renewable energy, particularly from wind, solar, and geothermal sources, has grown rapidly, although from a small base. By contrast, domestic consumption of petroleum and coal has somewhat declined in recent years.14 FIGURE 2.3 U.S. energy consumption by source, 2012 Wind 1.4% Hydropow er 2.8% Biomass 4.6% Natural gas 27.3% Total = 95.1 quadrillion BTUs Source: EIA, Monthly Energy Review, March 2013, table 1.3. Coal 18.4% Nuclear 8.5% Renew able energy 9.3% Petroleum 36.5% Solar 0.2% Geothermal 0.2% 12 A BTU is a common measure of energy consumption that refers to the quantity of heat required to raise the temperature of one pound of liquid water by one degree Fahrenheit at the temperature at which water has its greatest density (approximately 39 degrees Fahrenheit). 13 EIA, “What Is Renewable Energy?” (accessed January 30, 2013); EIA, Monthly Energy Review, March 2013, table 1.3. Total energy consumption refers to the consumption of primary energy sources (e.g., fossil fuels like crude petroleum or natural gas) before they are transformed into other forms of energy (i.e., electricity). 14 Increased vehicle fuel economy standards coupled with the recent U.S. recession have helped to lower demand for transportation fuels like gasoline. Stricter environmental regulations for coal and record low prices for natural gas have helped to cut coal consumption, particularly in coal-fired power plants that can use natural gas as a substitute fuel. EIA, Monthly Energy Review, March 2013, table 1.3; Bloomberg, Sustainable Energy in America 2013, 2013, 7. 2-6PDF Image | Renewable Energy and Related Services: Recent Developments
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