Reprinted with permission of Bloomberg New Energy Finance

The US is consuming energy considerably more efficiently and with lower emissions than just five years ago thanks to a slew of modern technologies that are changing decades-old patterns, research firm Bloomberg New Energy Finance and industry group the Business Council for Sustainable Energy find in a new report.

The Sustainable Energy in America 2013 Factbook portrays a dynamic and rapidly changing US energy landscape. Natural gas and renewables have gained market share largely at the expense of conventional resources. Energy efficiency is also making a major impact, and as a result energy demand has fallen steeply.

From 2007 to 2012, natural gas rose to 27.2 per cent of total energy consumption (including electricity, heat, and transportation) from 23.4 per cent, while renewables including wind, solar, biomass and hydropower have jumped to 9.4 per cent from 6.4 per cent. Meanwhile, during the same period, coal declined to 18.1 per cent from 22.5 per cent and oil fell to 36.7 per cent from 39.3 per cent. The winner of all this is US emissions. From 2007 to 2012, US energy-related CO2 emissions declined 13 per cent.

“Significant changes are occurring in the US energy sector that are boosting investment and accelerating deployment of a range of commercially available clean technologies,” said Lisa Jacobson, President of Business Council for Sustainable Energy. “The 2013 Factbook outlines these dynamics and provides the very latest data, not just on how much is being invested or how much is getting built, but on today's costs for these technologies. Our hope is that the report serves as a useful tool for policymakers and investors seeking the very best benchmarks in the energy sector.”