2020 inflation-adjusted U.S. energy expenditures lowest since 2002

In 2020, the amount U.S. consumers spent on energy (energy expenditures) fell to $1 trillion, the least amount since 2002, according to our State Energy Data System (SEDS). U.S. energy expenditures are the total amount spent on all energy used in the residential, commercial, industrial, and transportation sectors combined. COVID-19 mitigation efforts and warmer weather contributed to a record 7% decrease in energy consumption between 2019 and 2020, and when combined with the 10% decrease in average energy prices during that period (when adjusted for inflation), U.S. energy expenditures also declined. More »