Energy Monitor | October 2024

The future of data center growth — navigating energy demands

This blog discusses the substantial increase in energy demand for U.S. data centers driven by generative AI and cloud technologies, forecasting an additional requirement of 22.5 to 30 gigawatts by 2030. It highlights hyperscalers as crucial contributors to this trend, underlining their dedication to sustainability and the need for innovative energy management strategies. Read More

PJM capacity prices could jump 157% in next auction: Morgan Stanley

Capacity prices in the PJM Interconnection's upcoming auction could reach a $695/MW-day cap, reflecting a 157% increase from the previous record due to tight power supplies. Analysts from Morgan Stanley indicate that even small changes in supply could lead to significant price fluctuations, impacting electricity bills for consumers across the region. With demand for capacity projected to rise and limited new supply expected to enter the market in time, the upcoming auction could further escalate costs for electricity consumers. Read More

U.S. grid-scale energy storage installations surge, setting new Q2 record

The U.S. energy storage market saw substantial growth in Q2 2024, with 3,011 MW and 10,492 MWh deployed — a 74% increase from the previous year. The grid-scale segment led this surge, while California, Arizona and Texas accounted for 85% of installations. Looking forward, total U.S. storage deployments are expected to grow 42% from 2023 to 2024, despite ongoing development challenges in the community segment. Read More

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Innovation through education and energy efficiency

Discover how Usource transformed Forney Independent School District's facilities, enhancing energy efficiency and cutting costs. With innovative upgrades like retrofitted lighting and advanced HVAC systems, the district created a better learning environment while improving financial health, ultimately saving an estimated $6.8M over the next 15 years. Read More