According to the Energy Information Agency (EIA), electricity demand will increase by 28% by 2040, based on population growth and increased supply to currently non-developed countries.
The EIA predicts that electricity used for transportation will double between 2015 and 2040 as plug-in electric vehicles become more available and electricity is more readily used for rail transportation. However, this accounts for only 4% of total electricity consumption in 2040.
Electricity sources will be more diverse by 2040. EIA also predicts that renewables, coal and natural gas will each proved 30% of global consumption. In the US, utility-scale additions in 2018 primarily consisted of natural gas (62%), wind (21%), and solar photovoltaic (16%) capacity. The remaining 2% of additions came primarily from hydroelectric and battery storage capacity.
