After a more than decade-long period of largely flat growth, electricity demand is poised to skyrocket by 2030 as the artificial intelligence revolution, the expansion of chip manufacturing, and the electrification of the vehicle fleet all coincide as the U.S. is trying to address climate change. The tech sector’s build out of data centers to support AI and the adoption of electric vehicles alone is expected to add 290 terawatt hours of electricity demand by the end of the decade, according to a report released by the consulting firm Rystad Energy this week.
NextEra CEO John Ketchum told investors earlier this month that U.S. power demand will increase by 38% over the next two decades, a fourfold increase over the annual rate of growth in the previous 20 years. NextEra expects much of the demand to be met by renewables and battery storage, Ketchum said. The company has a 300-gigawatt pipeline of renewable and storage projects.
https://www.cnbc.com/2024/06/30/failure-to-meet-surging-energy-demand-will-jeopardize-economic-growth-utility-execs-warn.html