The ICF report highlights a significant shift in U.S. electricity demand, projecting an average rise of 9% by 2028. This marks the end of an era of flat demand nationally.
Utilities may face a spike in electricity prices due to the mismatch between rising demand and limited supply, potentially increasing by an average of 19% by 2028.
The mid-Atlantic region, particularly Northern Virginia, is expected to see the most dramatic demand increases, with projections indicating a staggering 68% rise by 2050.
To mitigate the impact of increasing demand, implementing demand-side management strategies and expediting renewable energy connections are essential for utility companies.
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