Lower CO2 emissions are partially due to shifts in power generation sources

We forecast the U.S. energy sector to emit about 4,790 million metric tons of carbon dioxide (CO2) in 2023, a 3% decrease from 2022. Much of this decline results from lower electricity generation from coal-fired power plants due to higher generation from renewable sources such as solar power. We expect this trend to continue into 2024, with CO2 emissions declining 1% relative to 2023.