US electricity demand is about to surge – here’s what needs to happen
After decades of stable electricity demand in the US, a new report from ICF (Nasdaq: ICFI) predicts a significant surge starting this decade.
US electricity demand to surge
The global consulting and tech services provider’s new report, “The Impact of Rapid Demand Growth,” measures and maps electricity demand growth over the next four years, as well as the potential costs to utilities. The researchers leveraged ICF’s proprietary, cloud-based clean energy analytics platform EnergyInsite.
The report shows that US electricity demand could increase by an average of 9% by 2028, while peak demand for electricity could increase by an average of 5% over the same period.
A strong US economy, the shift to electric vehicles and buildings, and the rise of battery and fuel cell manufacturing, data centers, AI, and cryptocurrency mining are all pushing electricity demand to new highs, putting added pressure on the grid.
Electricity demand is set to rise across every region of the US, but some areas will see faster growth than others. The mid-Atlantic region is expected to lead the way, driven by a rapid shift to electric buildings and vehicles, as well as surging data center demand. By 2050, demand in this region could jump by 68%, well above the national average of 57%.
ICF’s report asserts that renewables such as wind and solar could meet the expected demand growth, but challenges include upgrading the grid, speeding up the permitting and approvals process, and finding ideal locations for new clean energy infrastructure.
These challenges, along with rising electricity demand, could slow down the shift to clean, reliable, and affordable power. The report reveals that many utilities could see their electricity costs jump by an average of 19% by 2028, and they’ll likely pass on much of that increase to customers.
How to stay ahead of the demand surge
ICF’s report lays out six key recommendations to help utilities tackle these challenges and stay ahead of the demand surge. This includes setting up advanced system planning processes, pinpointing the best spots for renewable energy projects, and upgrading distribution grids.
The report also highlights how utilities can roll out cutting-edge customer programs that use AI to automatically manage and optimize grid-edge technologies, such as rooftop solar, EV chargers, battery storage, and virtual power plants.
Anne Choate, ICF executive vice president for energy, environment and infrastructure, said:
As the US navigates the surge in electricity demand, utilities have become even more critical in their role of managing demand and ensuring customers have reliable, affordable power.
To succeed, they will need to leverage new technologies and collaborate to integrate a balanced mix of new electricity supply and advanced customer programs.
Electrek’s Take
ICF’s report highlights some really important points. Of course rapid electrification is going to put added demand on the grid. Utilities are going to have to get creative and act quickly to come up with solid strategies to meet that need because the US needs a functional grid.
My utility in Vermont, Green Mountain Power, was the first utility in the US to deploy Tesla Powerwalls to create a virtual power plant. I pay $55 a month to lease two Powerwalls to go with the rooftop solar that we bought from Sunrun. When the power goes out, the Powerwalls come on. When the grid needs some juice, my Powerwalls provide it. I love this program because everyone wins. We get affordable access to Powerwalls for the privilege of backup power. And my Powerwalls help balance the grid during peak demand with clean energy, and that benefits everyone.
It’s just one program, but it’s a great example of the kind of advanced customer program that the ICF recommends should be rolled out across the US. Green Mountain Power shows that it’s possible – in fact, it wants to install battery storage for all 270,000 of its customers by 2030.
Read more: This US utility wants to give all of its customers battery storage by 2030
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Germany is about to become home to Europe’s largest battery storage system – a massive 1 gigawatt (GW) / 4 gigawatt-hour (GWh) project in Jänschwalde, Brandenburg.
LEAG Clean Power GmbH and Fluence Energy GmbH, a subsidiary of US-based Fluence Energy (NASDAQ: FLNC), are teaming up to build the “GigaBattery Jänschwalde 1000.” The four-hour system will use Fluence’s Smartstack technology, its latest large-scale energy storage solution.
Once complete, Europe’s largest battery storage project will play a key role in stabilizing Germany’s grid and storing renewable power for when the sun isn’t shining and the wind isn’t blowing. It’s designed to deliver essential grid services, support energy trading, and boost energy security as the country phases out fossil fuels.
LEAG’s broader “GigawattFactory” plan combines solar and wind farms with flexible power plants and large-scale batteries across Germany’s Lusatian energy region. “By constructing gigascale storage facilities, we’re addressing one of the biggest challenges of the energy transition: ensuring constant power regardless of the availability of renewable energies,” said Adi Roesch, CEO of the LEAG Group.
Fluence CEO Julian Nebreda described the project as a “milestone for the energy future of Germany and Europe,” adding that it demonstrates how collaboration and cutting-edge technology can “transform the foundation of our economy and our everyday lives.”
The German government recently reaffirmed the importance of storage in building a secure and affordable clean power system. With this 4 GWh giant, LEAG and Fluence are implementing that priority in one of Europe’s most coal-heavy regions.
Read more: Battery boom: 5.6 GW of US energy storage added in Q2
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![The Genesis GV90 is shaping up to be a real stunner [Video]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2024/11/Genesis-GV90-ultra-luxury-SUV.jpeg?resize=1200,628&quality=82&strip=all&ssl=1)
The GV90 will be the brand’s largest, most luxurious SUV yet. With its official debut coming up, a production version of the Genesis GV90 was spotted in public for the first time, offering a closer look at the stunning SUV.
The Genesis GV90 is a stunning flagship SUV
Genesis vehicles already have a unique design that’s hard to miss. The big Creste Grille, Two-Line Quad Lamps, and smooth character lines offer a refined, luxurious look, but Genesis is planning to take it to the next level with the GV90.
The GV90 is an “ultra-luxe, state-of-the-art SUV,” according to Genesis. It will be the luxury brand’s new flagship vehicle and first full-size electric SUV.
We got our first look at the flagship SUV last March after Genesis unveiled the Neolun concept at the New York Auto Show.
The GV90 has been spotted out in public several times now, even flashing high-end features like coach doors and adaptive air suspension, but now, we are finally getting our first look at the production version in real life.
A new video from HealerTV shows the production version of the Genesis GV90 in action. Although it’s still covered in camo, you can see a few slight design changes from the concept shown last year.
The headlights and grille appear closer in design to its current vehicles, but other than that, the GV90 looks essentially the same up front as the Neolun concept.
Since it’s still covered, it’s hard to see where the headlights are connected at this point. From the side and rear, the GV90 looks identical to the concept.
Genesis has yet to announce an official launch date, but the GV90 could debut by the end of the year with sales expected to kick off in mid-2026.
The flagship SUV is rumoured to be the first vehicle to debut on Hyundai’s new eM platform, which it claims will “provide 50% improvement in driving range” compared to its current EVs. It will also serve as a tech beacon, featuring Hyundai’s most advanced connectivity and safety tech.
We will learn official prices and final specs soon, but one thing is for sure: it won’t be cheap. The Genesis GV90 is expected to start at around $100,000, but higher trims could cost significantly more with added features and options.
Genesis is also introducing its first hybrid, the GV80, next year, followed by its first extended-range electric vehicle (EREV) based on the GV70. The EREV is expected to launch in late 2026 or early 2027. There’s also an off-road SUV in the works, which will likely arrive as a 2027 model.
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