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Deloitte analysis of Energy Information Administration (EIA)’s Energy Power Monthly (data for September 2024), accessed Nov. 22, 2024.
Deloitte analysis based on multiple resources: Electric Power Research Institute (EPRI), “Powering intelligence: Analyzing artificial intelligence and data center energy consumption,” May 28, 2024; S&P Global Market Intelligence, “2024 US datacenters and energy report,” accessed Nov. 22, 2024; S&P Global Market Intelligence, “Datacenters and energy 101: Powering through renewable intermittency,” October 2024; and Chris Seiple, “Gridlock: The demand dilemma facing the US power industry,” Wood Mackenzie, October 2024.
Stephanie Valdez Streaty, Q3 2024 Industry insights and sales forecast call, Cox Automotive, Sept. 25 2024, p. 26.
Jae Haroldsen, “U.S. climate alliance commits to 20 million installed heat pumps by 2030; No word on use of natural refrigerants,” R744.com, Sept. 29, 2023.
EPRI, “Reindustrialization, decarbonization, and prospects for demand growth,” July 25, 2024.
Deloitte analysis of EIA’s Energy Power Monthly (data for September 2024).
Ibid.
Deloitte analysis of EIA’s Short-term energy outlook data browser, Nov. 13, 2024.
Deloitte analysis of EIA’s Energy Power Monthly (data for September 2024).
Ibid.
Deloitte analysis of EIA’s Short-term energy outlook data browser.
Ibid.
Regulatory Research Associates (a group within S&P Global Commodity Insights), “Utility capital expenditure update databook—H2 2024: 2013–2028f as of Oct. 31, 2024 (excluding gas and water utilities),” accessed Nov. 5, 2024.
Ibid.
Jon Rea and Ryan Foelske, “What’s the state of utility planning halfway through 2024?” RMI, July 12, 2024.
National Infrastructure Advisory Council (NIAC), “Addressing the critical shortage of power transformers to ensure reliability of the US grid,” Cybersecurity & Infrastructure Security Agency, June 2024.
National Centers for Environmental Information, “Assessing the U.S. climate in August 2024,” National Oceanic and Atmospheric Administration, September 2024.
Dan Lowrey, “Underearning spread widens for gas, electric utilities in ROE analysis,” S&P Global, May 29, 2024.
Shankar Chandramowli, Patty Cook, Justin Mackovyak, Himali Parmar, and Maria Scheller, “Power surge: Navigating US electricity demand growth,” ICF, August 2024, p. 13.
Deloitte analysis of EIA’s Energy Power Monthly (data for August 2024).
Deloitte insights via AlphaSense.
Deloitte analysis based on multiple resources: EPRI, “Powering intelligence”; S&P Global Market Intelligence, “2024 US Datacenters and Energy Report”; S&P Global Market Intelligence, “Datacenters and energy 101”; Chris Seiple, “Gridlock.”
Deloitte 2024 power and utilities industry survey.
Mike O’Boyle, Casey Baker, and Michelle Solomon, “Supporting advanced conductor deployment: Barriers and policy solutions,” Energy Innovation Policy & Technology and GridLab, April 9, 2024; Emilia Chojkiewicz, Umed Paliwal, Nikit Abhyankar, Casey Baker, Ric O’Connell, Duncan Callaway, Amol Phadke, “2035 and beyond- reconductoring with advanced conductors can accelerate the rapid transmission expansion required for a clean grid,” GridLab, pp. 4. Reconductoring transmission lines could add approximately 64 Terawatt (TW) miles of new interzonal transmission capacity by 2035, compared to about 16 TW miles from building new transmission lines alone.
Ethan Howard, “21 states, DOE launch initiative to spur grid-enhancing technologies, advanced conductors,” Utility Dive, May 29, 2024.
Jeff John, “Data centers want clean electricity. Can Georgia Power deliver it?” Canary Media, April 22, 2024.
Constellation, “Constellation to launch Crane Clean Energy Center, restoring jobs and carbon-free power to the grid,” press release, Sept. 20, 2024.
This range is based on the assumption that the demand is met 50% through natural gas and 50% through renewables (solar). Deloitte’s analysis of multiple sources: EPRI, “Powering intelligence: Analyzing artificial intelligence and data center energy consumption,” May 2024; S&P Global Market Intelligence, “2024 US datacenters and energy report,” May 2024; S&P Global Market Intelligence, “Datacenters and energy 101: Powering through renewable intermittency,” October 2024; Wood Mackenzie, “Gridlock: The demand dilemma facing the US power industry,” October 2024; Energy Information Administration, ”Construction cost data for electric generators installed in 2022,” September 2024.
Geert De Lombaerde, “AEP, PUCO staff agree on data center rate plan,” T&D World, Oct. 25, 2024.
Sean Wolfe, “Utilities are grappling with data center growth. One plan could also help scale clean energy,” Powergrid International, May 29, 2024.
Caitlin Flanagan, “Clean transition tariffs: An innovative way to accelerate power sector emission reductions,” Center for Climate and Energy Solutions, Aug. 20, 2024.
Dan Swinhoe,”Nuclear-owning utilities in US primed for more data center energy deals,” Data Center Dynamics, June 24, 2024.
Laila Kearney, “U.S. regulators raise questions about siting data centers at power plants,” Reuters, Nov. 1, 2024.
S&P Global Market Intelligence, “2024 US datacenters and energy report,” accessed Nov. 22, 2024.
Solomon Klappholz,” Data center water consumption is spiraling out of control,” IT Pro, August 2024
Kate Hardin and Suzanna Sanborn, 2024 Power and Utilities Industry Outlook, Deloitte Insights, Dec. 4, 2023.
Adam Bruns, “Top utilities provide exclusive insights into the pressing need for more power,” Site Selection, September 2024.
Origis Energy, “TVA, Origis Energy to power Google data centers with 100% renewable energy,” press release, Nov. 9, 2020.
Jared Anderson, Darren Sweeney, and Rocco Canonica,” Power of AI: Wild predictions of power demand from AI put industry on edge,” S&P Global, Oct. 16, 2023.
Deloitte analysis of utility reports via AlphaSense.
Kathryn Kline, Sam Stephens, and Kiera Zitelman, “Nuclear generation in long-term utility resource planning,” National Association of Regulatory Utility Commissioners, November 2023.
Department of Energy (DOE), “Pathways to commercial liftoff: Advanced nuclear,” September 2024.
Femi Omitaomu, R. Belles, E. Davidson, and T. K. Kim, “Evaluation of nuclear power plant and coal power plant sites for new nuclear capacity,” US DOE Systems Analysis and Integration Campaign, Sept. 3, 2024.
World Nuclear Association, “Nuclear is ‘bedrock’ of Duke’s energy roadmap,” World Nuclear News, Aug. 17, 2023.
Ethan Howland, “PSEG in talks to sell nuclear power to data centers: CEO LaRossa,” Utility Dive, May 1, 2024.
Justine Calma, “The US could bring a shuttered nuclear power plant back to life next year,” The Verge, Oct. 1, 2024.
Brian Martucci, “US nuclear, coal power sites could host up to 269 GWe of new nuclear capacity: DOE,” Utility Dive, Sept. 16, 2024.
DOE, “8 things to know about converting coal plants to nuclear power,” March 5, 2024.
Deloitte analysis of EIA, Form EIA-923, Power Plant Operations Report and predecessor forms and calculations made by the Electric Power Systems and Reliability Team; Office of Electricity, Renewables, and Uranium Statistics, accessed Nov. 22, 2024.
Alan Howard and Vladimir Galabov, “Nuclear-powered data centers are on the horizon,” Omdia, Dec. 8, 2022.
Chuck Ross, “Get a load of these megawatts: Data center energy demand going nuclear,” Electrical Contractor, Sept. 11, 2024.
DOE, “The Office of Clean Energy Demonstrations,” January 2024.
DOE, “Pathways to commercial liftoff.”
Lee Harris and Malcolm Moore, “World’s biggest banks pledge support for nuclear power,” Financial Times, Sept. 23, 2024.
Constellation, “Constellation offers nation’s first corporate green bond for nuclear energy,” press release, March 18, 2024.
Deloitte analysis of AlphaSense data.
2024 power and utilities industry survey.
Congress.gov, “All information (Except Text) for H.R.1042 – Prohibiting Russian Uranium Imports Act,” accessed Oct. 29, 2024.
Climate Central, “Weather-related power outages rising,” April 24, 2024.
Nicholas D. Laws, Michael E. Webber, and Dongmei Chen, “Valuing distributed energy resources for non-wires alternatives,” Electric Power Systems Research 234 (2024).
Frank Jossi, “Xcel Minnesota looks to mimic power plants with solar and storage,” Canary Media, Aug. 28, 2024.
Smart Energy Decisions, “SDG&E unveils four advanced microgrids,” Feb. 16, 2024.
Christian Grant, Craig Rizzo, Kate Hardin, and Carolyn Amon, “Households transforming the grid: Distributed energy resources are key to affordable clean power,” Deloitte Insights, June 12, 2024.
Julia Hamm and Chase Weir, “C&I customer needs are rapidly changing. How can utilities maximize their relationship?” Utility Dive, Sept. 26, 2024.
Florian Kolb, “Digital economy meets energy transition: Data centers as an asset in energy flexibility and virtual power plants (VPPs),” Energy Central, Oct. 2, 2024.
Brittany Speetles, Eric Lockhart, and Adam Warren, “Virtual Power Plants and Energy Justice,” National Renewable Energy Laboratory, October 2023.
Rao Konidena, “SPP’s Order 2222 proposal is taking too long,” Renewable Energy World, July 18, 2024.
Robert Walton, “NYISO launches first-in-nation DER integration program in move toward FERC Order 2222 compliance,” Utility Dive, April 19, 2024.
Deloitte 2024 power and utilities industry survey.
DOE, “2024 U.S. Energy & Employment Jobs Report (USEER),” September 2024.
Deloitte’s analysis of Consolidated Edison, Inc. – Special Call accessed via AlphaSense.
Center for Energy Workforce Development, “2023 Energy workforce survey results,” December 2023.
Deloitte analysis of Consolidated Edison, Inc. – Special Call accessed via AlphaSense.
Deloitte analysis via AlphaSense.
Deloitte analysis of Lightcast database, accessed September 2024.
DOE, “Pathways to commercial liftoff.”
DOE, “Department of Energy Workforce Development and Readiness Programs, fiscal years 2011 to 2022,” May 2024.
Diane Baldwin et al, “Distributed energy resource interconnection roadmap: Identifying solutions to transform interconnection by 2035 (Draft report),” September 2024.
Deloitte analysis of DTE Energy Company’s Q2 2024 earnings calls.
Deloitte analysis of Edison International’s Q4 2023 Event Transcript.
Lily Baughan, “Accessing STEM Education: CRSF and Exelon’s transformative partnership,” press release, The Cal Ripken, Sr. Foundation, April 25, 2024.
Deloitte’s analysis via AlphaSense.
EPRI, “Low-Carbon Resources Initiative (LCRI) Research Vision: An outline for research, development, and demonstration activities to enable economy-wide decarbonization by midcentury,” Aug. 19, 2022.
Deloitte’s analysis via AlphaSense.
Ibid.
Deloitte 2024 power and utilities industry survey.
Sonal Patel, “Carbon capture projects at gas-fired Cane Run 7, coal-fired Four Corners get federal awards,” Power Magazine, Sept. 19, 2024.
Maria Gallucci, “Avnos raises $36M to pull CO2 — and water — from the sky,” Canary Media, Feb. 6, 2024.
Office of Fossil Energy and Carbon Management, “Selections for funding opportunity announcement 2560: Direct air capture combined with dedicated long-term carbon storage, coupled to existing low-carbon energy,” April 14, 2022.
Nick Pappas, Jon Martindill, Ben Rubin, and Isabella Corpora, “Utilities and carbon removal: A gigaton scale opportunity,” OurEnergyPolicy, Oct. 8, 2024.
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