Power plant proposals soar 90% amid surging demand
US power plant development proposals surged 90% over the past year, reaching a 15-gigawatt high amid soaring electricity demand and the Biden administration’s clean energy push. New gas-fired proposals rose 120%, while solar and wind project proposals increased 78% and 58%, respectively. Experts attribute the surge to rising power consumption from electric vehicles, data centers, and heat pumps, as well as the need to replace retiring coal plants. The Biden administration’s goal of a decarbonized grid by 2035 is also driving investment in renewable energy projects.