U.S. net energy imports, including all fuels, are expected to decline and then end by 2030, according to the Annual Energy Outlook 2015, a report by the U.S. Energy Information Administration. The end of net imports would be the first time that has been the case since the 1950s, the agency said.
Renewable energy generation, meanwhile, is forecast to grow, reaching double that of hydropower by 2040.
Other findings of the report:
- The strong growth in domestic production of crude oil from tight formations through 2020 and limited growth in domestic demand after 2020 results in a decline in net petroleum and other liquids imports.
- The United States transitions from being a net importer of natural gas to a net exporter by 2017.
- Renewables account for a higher share of electricity generation because of rising long-term natural gas prices and the high capital costs of new coal and nuclear generation capacity.