Canary Media: Data centers, bitcoin and EVs send utilities scrambling for more power
19 Mar 2024
News
The United States is facing a new energy crisis — one that could make the climate crisis even worse.
After more than 30 years of falling or flat demand for electricity, electric utilities are forecasting the nation will need the equivalent of about 34 new nuclear plants, or 38 gigawatts, over the next five years to supply power for data centers, electrification and new industry according to filings made to the Federal Energy Regulatory Commission and compiled by Grid Strategies.
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Minnesota Gov. Tim Walz recently announced over $50 million in grants to expand broadband access to an estimated 8,900 homes and businesses throughout Minnesota, including areas served by two of Great River Energy’s member-owner cooperatives.“We’re investing in broadband infrastructure statewide to help thousands of Minnesotans connect to jobs, education, healthcare...
Investments in electrification and intelligent digital technologies are actively reshaping the landscape of industrial real estate, precipitating a surge in electricity demands that challenge conventional development paradigms. As constraints on power availability become more acute, embracing a utility-first approach emerges as imperative, necessitating a delicate balance between the needs of...
Data center development-ready sites in Minnesota are a hot commodity courtesy of new tax incentives. Qualifying investments may benefit from 20-year sales tax exemptions on energy and valuable hardware, and lifetime tax exemptions on inventory, software, and IT services.R&D Grants Available for Companies Building On Development-Ready Sites in Minnesota Organizations that...
Tom Lambrecht