Electricity Demand on the Rise

Electricity demand in the United States is projected to increase substantially in the coming years, propelled by three key drivers: the rapid growth of artificial intelligence (AI) and data centers, the electrification of transportation through electric vehicles (EVs), and efforts to electrify heating and cooling systems in residential and commercial buildings. This shift could result in average national electricity prices increasing by 19% by 2028.

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Utility companies are grappling with a complex set of challenges as they seek to meet this rising demand. They face the dual pressures of ambitious net-zero goals and the need to integrate intermittent renewable energy sources into the grid while managing the impacts of extreme weather events exacerbated by climate change. All while meeting energy demands. While solutions like virtual power plants and expedited approval for renewable energy projects can help, finding the right balance between affordability and decarbonization remains crucial.

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As we navigate this changing landscape, it’s clear that a strategic approach to supply, policy, and innovation is essential. Finding the right balance between affordability and decarbonization becomes crucial. Technological advancements will play a vital role in addressing these challenges. At Innovo, we’re committed to providing solutions that address these challenges and support a sustainable energy future.

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Read more about the update here:

https://www.axios.com/2024/09/13/electricity-demand-utilities-ai-data-centers  

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