Currents Ep275: Paradigm Shift
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Dec 5, 2024 In this discussion, Chris Seiple, vice chairman of energy transition and power & renewables at Wood Mackenzie, dives into the surging electricity demand in the U.S., driven by data centers and electric transportation. He highlights the need for a robust renewable energy capacity while grappling with the economic and logistical challenges of scaling green technologies. The conversation also touches on the potential of small modular reactors as a nuclear solution and the hurdles faced by the energy sector amid growing demands and outdated infrastructure.
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Electricity Demand Surge
- U.S. electricity demand growth is surging after two decades of stagnation.
- This surge is driven by data centers, energy-intensive manufacturing, and the electrification of transport.
Capacity Needs and Renewables
- This demand translates to a need for 75-80 gigawatts of additional generating capacity over the next five years.
- Renewable additions could meet some demand, but location and timing are mismatched.
Data Center Demand Uncertainty
- New data centers represent a significant portion of the increased demand.
- Uncertainty exists around data center capacity growth, with estimates ranging between 25 and 100 gigawatts in the next five years.