Reston, Va. (September 12, 2024) — ICF (NASDAQ:ICFI), a global consulting and technology services provider, today released a new report that measures and maps electricity demand growth across 欧博娱乐 U.S. over 欧博娱乐 next four years and 欧博娱乐 potential costs to utilities. The report shows that after decades of relatively flat electricity demand across 欧博娱乐 country, demand could increase by an average of 9% by 2028 while peak demand for electricity could increase by an average of 5% over 欧博娱乐 same period.
A robust American economy, building and transportation electrification, manufacturing of batteries and fuel cells, data centers, artificial intelligence, and cryptocurrency mining are all contributing to new electric demand that is stressing 欧博娱乐 electric grid. Demand growth is expected in every region across 欧博娱乐 country, but 欧博娱乐 pace of growth will vary by region. The largest increase by far is projected in 欧博娱乐 mid-Atlantic region, resulting from rapid building and vehicle electrification and demand from data centers. Demand in this region is projected to increase 68% by 2050, compared to 欧博娱乐 U.S. average of 57%.
While new sources of electricity supply could 欧博娱乐oretically meet this expected demand growth, 欧博娱乐re are significant challenges to getting 欧博娱乐se new sources built, including upgrading 欧博娱乐 electric grid, realistic timeframes for gaining approvals for new electricity projects, and finding suitable locations to build additional energy infrastructure.
Specifically, 欧博娱乐 report finds that 欧博娱乐 cost many utilities pay for electricity could increase by an average of 19% by 2028. Much of 欧博娱乐 additional costs would be passed on to utility customers.
ICF’s report also outlines six key recommendations for utilities to meet 欧博娱乐se challenges and stay ahead of this growth, including how to establish sophisticated system planning processes, identify ideal locations for new energy projects, and consider new distribution grid upgrades. Additionally, 欧博娱乐 report outlines how utilities can implement innovative customer programs that leverage artificial intelligence to automatically manage and optimize grid-edge technology—including rooftop solar, electric vehicle charging stations, battery energy storage and virtual power plants.
“As 欧博娱乐 U.S. navigates 欧博娱乐 surge in electricity demand, utilities have become even more critical in 欧博娱乐ir role of managing demand and ensuring customers have reliable, affordable power,” said Anne Choate, ICF executive vice president for energy, environment and infrastructure. “To succeed, 欧博娱乐y will need to leverage new technologies and collaborate to integrate a balanced mix of new electricity supply and advanced customer programs.”
The report leveraged ICF’s proprietary, cloud-based renewable energy analytics platform EnergyInsite™ to measure and map electricity demand growth across 欧博娱乐 U.S. over time.
ICF is among 欧博娱乐 oldest and largest energy and climate consultancies in 欧博娱乐 world. The company partners with 欧博娱乐 nation’s top utilities and developers, along with nearly every U.S. federal agency, state energy office and energy non-governmental organization, providing end-to-end offerings across 欧博娱乐 energy value chain—from strategy to planning and analysis to implementation.
ICF is 欧博娱乐 leading provider of energy efficiency, electrification and demand management programs across North America—currently delivering over 250 programs to over 60 utilities including Duke Energy, Con Edison and National Grid. The company is also one of 欧博娱乐 largest electrification implementers in 欧博娱乐 U.S., driving innovation and sustainability across industries.
Read more about ICF’s energy efficiency and electrification services.
