COVID-19 Impact on the Energy Sector in the United States (2020)

Abstract

This study comprehensively examines the effects of the COVID-19 pandemic on energy consumption in the United States. The purpose of the study is to quantify the effects of lockdowns and pandemic disruptions on energy consumption trends in order to inform policymakers and utilities on how to prepare for such events in the future. The study focuses on 2020 data collected by the Federal government. The effects are quantified using descriptive statistics. State-wise and sector-wise data have been presented using plots and heat maps. Related metrics like COVID case data, GDP, emissions, and expenditures were also presented. The total energy consumption fell by 7.5% in 2020. Besides Alaska, every state saw a decrease in energy, with some as high as 26%. The residential sector had the most states that saw an increase in energy, stemming from lockdowns and working from home. Similarly, petroleum consumption saw a decrease of 11.4% as a result of a decrease in travel. Biomass-related renewable energy generation fell by 23% due to decreased demand, while all other sources increased by 7.3%. Carbon dioxide emissions fell by 10.4%, methane by 2.8%, and nitric oxide by 6.7%. The overall per capita energy expenditure for the country dropped by 18.5%. There was a stronger correlation between GDP and energy consumption than between GDP and COVID case counts. The pandemic did not affect each state or sector evenly. The statistics and correlations presented here can be used in the ongoing effort to study the global impact of the pandemic and prepare for future challenges.

Impacts of COVID-19 lockdown period on the Algerian power grid demand

“…Each deviation is calculated from 2 consecutive years such as 2018 to 2019, 2019 to 2020, and 2020 to 2021. Deviations are calculated based on (5).…”

“…The first week of lockdown in India has the highest average reduction in peak demand by 20% [4]. In the United States of America, the energy drops down by 7.5% in 2020 [5]. In Europe, many countries presented a reduction of generation by 9% during the month of April 2020 [6], [7].…”

Volatility spillovers among leading cryptocurrencies and US energy and technology companies

“…Pandemic-induced restrictions on the transportation, aviation, and maritime sectors reduced demand for energy commodities, affecting commodity futures markets (Zhou et al 2022). In 2020, total energy commodity consumption decreased by 7.5%, including an 11.4% decline in oil consumption (Vaz 2022).…”