IEA: Review of US Energy Policy in 2024

The IEA released the "2024 U.S. Energy Policy Review". The United States has implemented major energy and climate policy reforms aimed at putting the United States on a path to a clean, secure and affordable energy system and a net zero economy while promoting fair and high-quality employment.

The United States is the world's second-largest energy consumer and CO2 emitter, but it is also a major technology and innovation leader, with rapid growth in clean energy investments making it the world's leading market for renewable energy, battery, electrolyzer and heat pump manufacturing, and electric vehicle sales. It is also the world's largest producer of biofuels. The United States is experiencing strong economic growth, accompanied by falling emissions and improving efficiency. Energy efficiency growth is expected to reach 4% by 2023.

The IEA’s net-zero scenario and COP28’s commitment to increase global energy intensity progress from 2% to 4% have seen this effort every year for the past decade. The United States has driven major investments in renewable energy capacity, nuclear life extension, new nuclear, and low-carbon fuels. Domestic coal use has fallen to historic lows. Total U.S. CO2 emissions from energy combustion fell 4% in 2023, while the economy grew 2.5%. Two-thirds of the reduction came from the power sector.

Strengthening energy security and clean manufacturing while reducing emissions

Federal government actions are focused on expanding the clean energy economy and building diverse and resilient energy supply chains to strengthen energy security and clean manufacturing.

Accelerate the industry’s transition to clean energy

America’s energy transition depends on the development of new infrastructure across all sectors, and the federal government is pursuing a “private sector-led, government-supported approach” to achieve this goal.

Implementing a people-centered energy transition

Affordability, equity and quality jobs are at the heart of federal government policy.

Managing energy security in transition

Managing energy security during the transition requires governments to accelerate investment in clean energy supply and demand, making energy efficiency the first fuel.

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