Data Source: U.S. Energy Information Administration, State Energy Data System (SEDS); U.S. Department of Commerce; Bureau of Economic Analysis.
Analysis by CEC Economics
Highlight
- After a 1.8% increase from 2021 to 2022 (4.4 to 5.5%), California’s energy expenditures fell 0.5%, to 5.0% of GDP in 2023. While California’s bill was lower than the U.S. without California, where expenditures were 5.8% in 2023, that gap is quickly shrinking from 2.4% lower in 2013 to only 0.7% lower in 2023.
Challenge
- From 2017 to 2021, California ranked fourth in terms of lowest energy expenditures relative to GDP. However, as a result of rapidly rising energy expenditures, California fell to sixth place in 2022 and further to ninth place in 2023, behind Massachusetts (3.2%), New York (3.4%), Washington (4.1%), New Jersey (4.5%), Colorado (4.6%), Delaware (4.7%), Illinois (4.7%), and Connecticut (5.0%).
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