Projects
US power demand rose gradually for almost two decades as efficiency gains offset the effects of population and economic growth. But that trend is now poised to change as more energy technologies run on electricity. Federal Energy Regulatory Commission show nationwide forecasts for electricity demand growth over the next five years had “shot up” from 2.6 per cent in 2022 to 4.7% over the next five years.
Growth is primarily led by new manufacturing industry and demand of data centers. Efforts to revive domestic manufacturing appear to be having an effect. Roughly $630 billion investment in facilities that have large loads, including $481 billion for manufacturing and industrial facilities and $150 billion for data centers. Electrification, hydrogen production and severe weather are also contributing to the growth.
Low transfer capability between regions is a key risk for reliability if load growth outpaces deployment of new generation in some regions. NERC forecast peak winter electricity demand growth of 11.6 per cent in the decade between 2024 and 2033, compared with growth of 5.4 per cent between 2019 and 2028. Summer peaks over the same time periods were forecast to rise 9.2 per cent, compared with 5.2 per cent in the earlier forecast. Overall peak demand is expected to grow 38 GW over the next five years in the US.
Texas, another state with rapidly rising power demand, imposed blackout on 4.5 million customers during the winter storm Uri in 2021. Demand during a blistering, lengthy heatwave last summer repeatedly broke records. EmberClear is well positioned to take advantage of this once-in-a-generation opportunity. We are currently developing several energy projects in North America that are capable of delivering peak loads.
With nearly one-third of coal-fired generating capacity being taken off the grid to meet environmental regulations, our cleaner power plants are offsetting the decommissioning of these legacy coal-based power plants, creating new jobs and more wealth.
EmberClear’s projects will provide America with low-cost, clean energy for domestic consumption, creating greater energy independence and support export industries.
