Growth in semiconductor manufacturing has helped push electricity use higher in Oregon. States like Virginia and Iowa are seeing the addition of more large-scale data centers. Oil fields in North Dakota and New Mexico are hooking up to the grid and driving some of the nation’s biggest upswings in electricity use.

Electricity demand typically inches higher slowly with economic and population growth, canceled out by efficiency gains. Nationally, sales grew just 5% in the past decade. Texas electricity demand grew by 25% during that period, according to government data.

Many utilities and grid operators across the U.S. are adjusting demand forecasts higher.

In coming years, computing power for artificial intelligence and wider adoption of electric vehicles will add to the demand. In addition, more manufacturing is relocating to the U.S. because of incentives in last year’s Inflation Reduction Act.

https://www.msn.com/en-ca/money/markets/electricit...

Someone will need to invest billions in generation and grid upgrades.

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