Dive Brief:
- U.S. electricity demand could grow 25% from 2023 to 2030 and 78% by 2050, driven in the near term by artificial intelligence data centers, new manufacturing capacity and widespread electrification in the oil and gas sector, ICF said Tuesday.
- The new forecast is significantly higher than the international consulting firm’s September projection of 9% load growth by 2028 and 18% by 2033 as new data center and industrial loads materialize faster than anticipated, the consulting firm said.
- Residential electricity rates could rise 15% to 40% over the next five years and double by 2050, according to an ICF analysis of select U.S. utilities. Demand-side management efforts such as demand response programs, energy efficiency investments and behind-the-meter generation and storage deployments can relieve some of the expected pressure on the grid, ICF said.
Read the full story on UtilityDive: www.utilitydive.com/news/icf-sees-25-load-growth-by-2030-up-to-40-price-increase/748711
