Permitted Power Capacity Foreshadows Health of Regional Economies
August 26, 2024
The U.S. electric grid, a trusted engine for economic sovereignty and growth, is struggling to keep pace with the demands of a modern economy. Sputtering along on today’s 1.3 million megawatts (MW) of generation, booming industries plead for the supplementary generation commanded by computational power, superior process design, and electrification. A growing currency in the 21st century economy, investors track the proliferation of new generation across the country – construction projects bound to incite investment and expansion into these contending regions.
Going Vertical with New Electric Power
Some help is on the way. At the moment, 132,000 MW of new generation capacity projects are either permitted or under construction, according to the American Public Power Association’s 2024 Generation Capacity Update. Projects that could generate an additional 335,000 MW are pending review.