Photo: Carmen Jaspersen/picture alliance/Getty Images

American residential electric use has been declining since 2010 because more households made the switch to LED light bulbs, reports the Wall Street Journal.

Why it matters: The annual changes in electricity use aren't massive, but they will likely have significant impacts on household budgets, the environment and energy markets.

The big picture: Electricity consumption increased tenfold between 1950 and 2010, but declined following the Great Recession in 2008. The Journal notes that it's not abnormal for electric use to decline during a financial crisis, but it kept declining well past its end due to the adoption of LED bulbs.

  • The average American household spent about 10% less on electricity in 2017 than in 2010.
  • Residential electricity use in 2017 was as low as it had been since 2000.

The adoption of LED bulbs brought electricity use for lighting down by 26% from 2015 to 2017. The change meant raw consumption dropped from 129.7 million megawatt-hours a year to 95.5 million megawatt-hours.

  • What's next: If the drop in use of incandescent and halogen bulbs continues apace, that figure could dip to 61.3 million-megawatt hours by 2021.

Go deeper: How Axios' Amy Harder is trying to get greener and cheaper electricity

Go deeper

Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Trump threatens to post "60 Minutes" interview early after reportedly walking out

Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted on Tuesday that he was considering posting his interview with CBS' "60 Minutes" prior to airtime in order to show "what a FAKE and BIASED interview" it was, following reports that he abruptly ended the interview after 45 minutes of taping.

Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.