Over the next few months, the commercial and industrial sectors of the United States economy will see the biggest setbacks from COVID-19, the Department of Energy’s Energy Information Administration said in a short-term energy outlook.
“EIA expects the largest impact will occur in the commercial sector where forecast retail sales of electricity fall by 4.7% in 2020 due to the closure of many businesses,” according to EIA’s outlook.
The residential sector, meanwhile, will see less of an impact from COVID-19, with a decline of about 0.8%. This is mostly due to normal seasonal temperature shifts, according to the EIA.
The U.S. power plant fleet will generate 3% less energy in 2020, with renewable energy accounting for the biggest part of new generation. EIA previously predicted that that renewable generation by the electric power sector will grow by 11% this year. Coal is expected to fall by 20%.
EIA predicts that COVID-19 and the resulting economic slowdown could have an impact on new power plant builds over the next few months.
