Utility Dive•21 days ago
445 GW — mainly solar, storage — to come online by 2030 as demand growth surges: ICF
Key Takeaway
The U.S. power grid faces an imminent capacity crunch driven by surging demand, creating an urgent need for massive deployment of solar and storage, particularly in PJM and ERCOT, and significant opportunities for developers and large loads.
AI Summary
- •U.S. is projected to add 445 GW of new capacity by 2030, predominantly solar and storage, to address an anticipated 39% surge in electricity demand by 2035.
- •PJM and ERCOT face critical capacity shortages, with no spare capacity for demand growth beyond 2027, indicating potential reliability issues and price volatility in these key markets.
- •Demand response and Grid Enhancing Technologies (GETs) are highlighted as essential tools to manage the escalating demand, presenting opportunities for large power consumers and technology providers.
- •The substantial demand growth, likely driven by electrification and data centers, creates a massive market opportunity for developers of renewable energy and storage projects.
Topics
capacity-marketdatacenterercotinterconnectpjmpolicysolarstoragetransmission