Electricity use in the United States stood at roughly 4,049 terawatt hours in 2023. It is projected that U.S. electricity use will continue to rise over the coming decades to reach 5,178 terawatt hours by 2050.

United States Electricity Consumption data was reported at 11.791 kWh/Day bn in Feb 2025. This records a decrease from the previous number of 12.060 kWh/Day bn for Jan 2025. United States Electricity Consumption data is updated monthly, averaging 9.940 kWh/Day bn from Jan 1991 (Median) to Feb 2025, with 410 observations. The data reached an all-time high of 13.179 kWh/Day bn in Jul 2024 and a record low of 7.190 kWh/Day bn in Apr 1991. United States Electricity Consumption data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB004: Electricity Supply and Consumption. [COVID-19-IMPACT]

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Demand Response Market Size 2025-2029

The demand response (DR) market size is forecast to increase by USD 3.30 billion, at a CAGR of 8.4% between 2024 and 2029.

The market is experiencing significant growth due to the increasing importance of energy savings and customer participation in managing electricity consumption. This market caters to various segments, including residential, commercial, and industrial, each with unique energy efficiency needs. In the residential segment, homeowners are increasingly adopting smart home technologies to reduce energy usage and save costs. In the commercial segment, businesses are recognizing the financial benefits of DR programs, which enable them to reduce peak electricity demand and lower energy bills. The industrial segment, which is a major consumer of electricity, is also embracing DR solutions to optimize energy usage and improve operational efficiency. The market is driven by factors such as the growing gap between electricity supply and demand, the emerging concept of the Internet of Things, and the increasing threat of cybersecurity risks. Energy savings, customer engagement, and grid reliability are key priorities for utilities and energy providers, making the market an essential component of the broader energy ecosystem.

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The market is witnessing significant growth due to the increasing focus on energy efficiency (EE) and grid stability. This market plays a crucial role in managing energy consumption and reducing greenhouse gas emissions, particularly in the context of rapid industrialization and urbanization. Government agencies and utility companies are increasingly implementing DR programs to ensure uninterrupted power supply and improve air quality. These programs leverage smart grids and real-time consumption data to enable on-demand services that respond to changes in energy demand. Manufacturing, residential, and commercial segments are the primary consumers of DR services. In the manufacturing sector, DR systems help optimize energy usage and reduce carbon emissions, while in the residential segment, homeowners participate in DR programs to save energy and lower their utility bills. In the commercial segment, DR solutions help businesses manage their energy consumption and reduce operational costs. Smart grid components, such as Advanced Metering Infrastructure (AMI) meters, enable two-way communication between utility companies and consumers, facilitating the implementation of DR programs. General Electric (GE) and Comverge are some of the key players in the DR market, offering energy savings and regulatory compliance solutions. Regulation systems play a significant role in driving the growth of the market.
For instance, the US Energy Policy Act of 2005 mandates utilities to implement DR programs to improve grid stability and reduce peak electricity demand. Furthermore, the US Department of Energy's Smart Grid Investment Grant Program provides funding for the development and implementation of DR projects. In conclusion, the market is a vital component of the energy ecosystem, enabling energy efficiency, grid stability, and uninterrupted power supply. The market is driven by government regulations, industrialization, urbanization, and the increasing focus on energy efficiency and carbon emissions reduction. Smart grids, real-time consumption data, and advanced metering infrastructure are the key enablers of this market, with major players such as GE and Comverge offering comprehensive DR solutions.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Hardware and software
  Service


End-user

  Industrial
  Residential
  Commercial


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africa

By Product Insights

The hardware and software segment is estimated to witness significant growth during the forecast period.

In the past, demand response programs were managed through manual consultations without the use of advanced technology. Utility companies and aggregators suggested energy-saving measures to homeowners based on manual predictions. For example, homeowners were asked to reduce their energy usage manually during suggested peak demand periods. However, these traditional methods placed a significant burden on consumers to manage the programs and sometimes resulted in incorrect predictions due to inaccurate calculations. To address these challenges, US aggregators have begun implementin

Petroleum is the primary source of energy in the United States, with a consumption of 35.43 quadrillion British thermal units in 2023. Closely following, the U.S. had 33.61 quadrillion British thermal units of energy derived from natural gas. Energy consumption by sector in the United States Petroleum is predominantly utilized as a fuel in the transportation sector, which is also the second-largest consumer of energy in the U.S. with almost 30 percent of the country’s total energy consumption in 2023. This figure is topped only by the energy-guzzling industrial sector, a major consumer of fossil fuels such as petroleum and natural gas. Renewable energy in the United States Despite the prevalence of fossil fuels in the U.S. energy mix, the use of renewable energy consumption has grown immensely in the last decades to approximately 11 exajoules in 2023. Most of the renewable energy produced in the U.S. is derived from biomass, hydro and wind sources. In 2023, renewable electricity accounted for approximately 22.5 percent of the nation’s total electricity generation.

Coal consumption within the electric power sector in the United States fell to 387.17 million short tons in 2023. In the past decade, there has been a marked decline in the use of coal for electricity generation. Coal consumption peaked between 2005 and 2008, when over one billion short tons were used every year. However, with the promotion of natural gas as a bridge-fuel toward a greener power sector, coal as the dirtiest of fossil fuels has fallen out of favor and natural gas has succeeded coal in becoming the main fuel type used for electricity generation in the U.S. Coal use by sector Coal is used primarily by the power sector. An Edison plant built for New York City in 1882 was the first coal-fired electricity plant in the U.S. By the 1950s, coal was considered the leading source of fuel for electricity generation. Declines in coal usage occurred around 2007, amidst the increased availability of renewables and natural gas. Apart from the use of thermal coal for power production, coking coal is an important raw material used for steelmaking, and the industrial sector still consumes around one quadrillion British thermal unit every year. Coal power use around the world The U.S.is the third largest consumer of coal in the world, following China and India. China’s consumption exceeds the total of many other countries combined, reaching 86.17 exajoules to U.S.' 10.57 exajoules. Fossil fuels are still a primary source of fuel around the world. U.S. fossil fuel consumption reached some 79.05 quadrillion British thermal units in 2022.

The US Thermal Power Market Size was valued at USD 213.3 Million in 2024 and is projected to reach USD 250.23 Million by 2032, growing at a CAGR of 2.01% from 2025-2032.

US Thermal Power Market: Definition/ Overview

In the United States, Thermal power refers to the creation of electricity using heat energy, which is generally derived from fossil fuels such as coal, natural gas, and oil, as well as nuclear and geothermal energy. Thermal power plants use heat to convert mechanical energy, which is then used to drive turbines and generate electricity. This sector is an important part of the United States’ energy infrastructure, providing a steady power supply to industries, residences, and commercial organizations. It is especially useful in meeting base load energy requirements and handling peak demand when renewable energy sources are intermittent.

The US Thermal Power Market is being driven by advances in cleaner, more efficient technologies that correspond with sustainability goals. Carbon capture, utilization, and storage (CCUS) technologies, upgraded combined cycle plants, and cleaner fuel choices are projected to minimize emissions while improving plant performance. As the energy grid shifts toward a renewable-dominated mix, thermal power will remain critical to grid stability, serving as a dependable backup during periods of low renewable output. These improvements establish thermal power as a critical component in attaining a balanced, resilient, and sustainable energy future.

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ACDC Power Supply Market Size 2024-2028

The ACDC power supply market size is forecast to increase by USD 11.14 billion at a CAGR of 6.03% between 2023 and 2028.

The market is experiencing significant growth due to the increasing demand for consumer electronics, particularly In the US and North America. The expansion of healthcare sector, with the rise in usage of medical devices such as MRI and CT scanners, is another key factor driving market growth. Strict regulations and standards on the production and sale of power supplies ensure the market's sustainability. The digital transformation, including the integration of IoT devices, smart home devices, and smartphones, is leading to an increased demand for advanced energy solutions. The adoption of 5G technology in consumer electronics, electric vehicles (EVs), industrial automation, and construction, is also fueling the market's growth. The market's future looks promising, with the increasing demand for power supplies in various industries, including transportation, lighting, and computing.

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The AC-DC power supply market encompasses a wide range of external power solutions, including AC adapters and sealed units, designed to convert alternating current (AC) to direct current (DC) for powering various electronic devices. This market caters to diverse industries, such as portable devices, household electronics, and commercial electronics. AC-DC converters, transformers, and rectifiers are integral components of these power supplies. The market's growth is driven by the increasing demand for compact and efficient power solutions for electronic devices, including home appliances, computer and laptop systems, portable consumer electronics, and computing devices. The need for resilient power infrastructure, particularly in regions with unreliable grid power, further fuels market expansion.
The global AC-DC power supply market is expected to experience steady growth due to the continuous development of advanced technologies and the increasing adoption of electronic devices across various sectors. Furthermore, the semiconductor industry's shift towards gallium nitride (GaN) technology and the integration of energy storage systems in UPS systems are expected to provide significant opportunities. The market is also witnessing a trend towards the use of power electronics in renewable energy applications, greenhouse automation, and wireless charging systems. The market's sizeable potential is attributed to the ever-evolving landscape of electronic devices and the increasing focus on energy efficiency and sustainability.

How is this ACDC Power Supply Industry segmented and which is the largest segment?

The ACDC power supply industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Consumer electronics
  Wireless communication and infrastructure
  Automotive
  Energy
  Other


Type

  AC-DC
  DC-DC


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany


  Middle East and Africa



  South America

By Application Insights

The consumer electronics segment is estimated to witness significant growth during the forecast period.

ACDC power supplies play a vital role in powering various electronic devices, converting alternating current (AC) from the electricity mains into the direct current (DC) required by most consumer electronics. These power supplies are essential for powering a wide range of devices, including portable devices like smartphones, laptops, tablets, and household electronics, commercial electronics, computing devices, and even industrial equipment. The compact and efficient design of modern ACDC power supplies enables them to fit withIn the confined spaces of these devices, providing reliable and stable power to complex circuits and sensitive electronic components. With their ability to handle varying voltage inputs and provide consistent output, ACDC power supplies are indispensable for maintaining the performance and longevity of electronic devices.

They are also crucial for powering emerging technologies such as 5G smartphones, smart home appliances, wearables, medical and healthcare devices, and electric vehicles (EVs), contributing to the reduction of greenhouse gas emissions and carbon footprint. ACDC power supplies come in various forms, including AC adapters, external power supplies, compact sealed units, and wireless charging solutions, incorporating advanced technologies like GaN devices, Qi2 chargers, and AC-DC converters. These power supplies are integral to the digital transformation, automation, and resil

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Electricity Trading Market Size 2025-2029

The electricity trading market size is forecast to increase by USD 123.5 billion at a CAGR of 6.5% between 2024 and 2029.

The market is witnessing significant growth due to several key trends. The integration of renewable energy sources, such as solar panels and wind turbines, into the grid is a major driver. Energy storage systems are increasingly being adopted to ensure a stable power supply from these intermittent sources. Concurrently, the adoption of energy storage systems addresses key challenges like intermittency, enabling better integration of renewable sources, and bolstering grid resilience. Self-generation of electricity by consumers through microgrids is also gaining popularity, allowing them to sell excess power back to the grid. The entry of new players and collaborations among existing ones are further fueling market growth. These trends reflect the shift towards clean energy and the need for a more decentralized and efficient electricity system.

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The market, a critical component of the global energy industry, functions as a dynamic interplay between wholesale energy markets and traditional financial markets. As a commodity, electricity is bought and sold through various trading mechanisms, including equities, bonds, and real-time auctions. The market's size and direction are influenced by numerous factors, such as power station generation data, system operator demands, and consumer usage patterns. Participants in the market include power station owners, system operators, consumers, and ancillary service providers. Ancillary services, like frequency regulation and spinning reserves, help maintain grid stability. Market design and news reports shape the market's evolution, with initiatives like the European Green Paper and the Lisbon Strategy influencing the industry's direction towards increased sustainability and competition.
Short-term trading, through power purchase agreements and power distribution contracts, plays a significant role in the market's real-time dynamics. Power generation and power distribution are intricately linked, with the former influencing the availability and price of electricity, and the latter affecting demand patterns. Overall, the market is a complex, ever-evolving system that requires a deep understanding of both energy market fundamentals and financial market dynamics.

How is this Electricity Trading Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Day-ahead trading
  Intraday trading


Application

  Industrial
  Commercial
  Residential


Source

  Non-renewable energy
  Renewable energy


Geography

  Europe

    Germany
    UK
    France
    Italy
    Spain


  APAC

    China
    India
    Japan
    South Korea


  North America

    US


  South America



  Middle East and Africa

By Type Insights

The day-ahead trading segment is estimated to witness significant growth during the forecast period.

Day-ahead trading refers to the voluntary, financially binding forward electricity trading that occurs in exchanges such as the European Power Exchange (EPEX Spot) and Energy Exchange Austria (EXAA), as well as through bilateral contracts. This process involves sellers and buyers agreeing on the required volume of electricity for the next day, resulting in a schedule for everyday intervals. However, this schedule is subject to network security constraints and adjustments for real-time conditions and actual electricity supply and demand. Market operators, including ISOs and RTOs, oversee these markets and ensure grid reliability through balancing and ancillary services. Traders, including utilities, energy providers, and professional and institutional traders, participate in these markets to manage price risk, hedge against price volatility, and optimize profitability.

Key factors influencing electricity prices include weather conditions, fuel prices, availability, construction costs, and physical factors. Renewable energy sources, such as wind and solar power, also play a growing role in these markets, with the use of Renewable Energy Certificates and net metering providing consumer protection and incentives for homeowners and sustainable homes. Electricity trading encompasses power generators, power suppliers, consumers, and system operators, with contracts, generation data, and power station dispatch governed by market rules and regulations.

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The day-ahead tra

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Power Semiconductor Market Size 2024-2028

The power semiconductor market size is forecast to increase by USD 12.42 billion at a CAGR of 8.3% between 2023 and 2028.

The market is experiencing significant growth due to the increasing demand for power semiconductors in various industries, including consumer electronics, aerospace and defense, transportation, and medical applications. The trend toward vehicle electrification is driving the market, as power semiconductors are essential for managing large currents and reducing energy consumption in electric vehicles. Additionally, the need for high power density and low on-resistance in power semiconductors to minimize switching losses is a key market trend. In the transportation sector, the supply-demand gap for power semiconductors is increasing due to the rising popularity of electric and hybrid vehicles. In conclusion, the demand for semiconductors in the electric vehicle, renewable energy, and industrial automation sectors is expected to remain strong, driven by the need for energy efficiency, thermal management, and the integration of advanced technologies. The aerospace and defense industry also require high-performance power semiconductors for various applications, such as electric propulsion systems and power conversion systems. The medical industry is another significant market for power semiconductors, with the increasing use of portable medical devices and implantable medical devices. Overall, the market is expected to continue growing due to the increasing demand for power semiconductors in various industries and the need for high-performance, energy-efficient solutions.

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The market is witnessing significant growth due to the increasing demand for energy-efficient solutions in various industries. Power semiconductors are essential components in electrical systems that control and manage the flow of large currents, making them indispensable in numerous applications. Electric vehicles (EVs) are one of the primary growth drivers in the market. As the world transitions towards sustainable transportation, the adoption of EVs is increasing, leading to a higher demand for power semiconductors. These components are crucial in managing the electric power flow in EVs, ensuring efficient energy consumption and extended battery life.
Renewable energy is another significant market for power semiconductors. The integration of renewable energy sources into the power grid requires advanced semiconductor technologies to manage inconsistent power generation and ensure grid stability. Power semiconductors enable efficient energy conversion, storage, and distribution, making them an essential component in renewable energy systems. Grid modernization is another area where power semiconductors play a vital role. With the increasing adoption of smart grids and advanced distribution systems, there is a growing need for power semiconductors to manage the complex power flow and ensure reliable power delivery. Advanced manufacturing techniques are revolutionizing the power semiconductor industry.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Automotive
  Industrial power control
  Others


Geography

  APAC

    China
    Japan
    South Korea


  Europe

    Germany


  North America

    US


  South America



  Middle East and Africa

By Application Insights

The automotive segment is estimated to witness significant growth during the forecast period.

Power semiconductors play a crucial role in managing and controlling large currents and energy consumption in various industries, including consumer electronics, aerospace and defense, transportation, and medical applications. In the transportation sector, power semiconductors are utilized in vehicle electrification to power electric and hybrid vehicles, as well as in engine and transmission electronics for conventional vehicles. These components include controllers, gate drivers, power integrated circuits, and converters, which are essential for supplying and regulating power systems such as DC/DC, DC/AC, and AC/DC. The increasing demand for energy efficiency, stringent emission regulations, and the integration of advanced technologies are driving the growth of the market.

For instance, in the automotive industry, the adoption of power semiconductors is on the rise due to the need to reduce fuel consumption and carbon emissions. In the medical field, power semiconductors are used in various applications such as portable medical devices and imaging systems. In the aerospace and

Industrial activities are the greatest energy end-user sector in the United States, reaching a consumption of some 31 quadrillion British thermal units in 2023, followed by the transportation sector. The U.S. is the second-largest energy consumer in the world, after China. Energy source in the United States Consumption of fossil fuels still accounts for the majority of U.S. primary energy consumption. The transportation sector and electricity generation are the sectors with the largest fossil fuel consumption in the country, mainly relying on oil-based motor fuels and natural gas, respectively. Electricity generation in the United States Although around 60 percent of the electricity generated in the U.S. is derived from natural gas and coal, the use of renewable sources is becoming more common in electricity production, wind the largest increase in wind and solar power. These two clean energy resources are projected to generate as much power as natural gas by 2030.

This dataset combines three Federal datasets of thermoelectric, non-industrial, power plant water withdrawals and associated plant information for the United States in 2010, excluding Puerto Rico and the U.S. Virgin Islands. Historically, thermoelectric water withdrawal has been estimated by the Department of Energy's Energy Information Administration (EIA) through surveys of plant operator-reported data, and the Department of Interior's U.S. Geological Survey's (USGS) 5-year water-use reports including data compiled from state water agencies, plant operators, and the EIA. Recently, the USGS developed models for estimating withdrawal at thermoelectric plants to provide independent estimates from plant operator-reported data. The three Federal datasets include plant-level data for 1,349 plants derived from EIA's 2010 Form EIA-860 and Form EIA-923 databases, USGS 2010 compilation-reported data (hereafter referred to as the USGS-compilation dataset), and USGS 2010 model-estimated data (hereafter referred to as the USGS-model dataset). The plant-level USGS-compilation data provided in this dataset were disaggregated from county-level data published in USGS Circular 1405 (Maupin and others, 2014). The USGS-model data and the EIA data presented in this dataset were previously published in USGS Scientific Investigations Report 2014-5184 (Diehl and Harris, 2014). The year 2010 was chosen because it is the most recent year the USGS 5-year compilation report was published and the only year for which the USGS model estimates have been calculated.

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Residential Gas Generator Market Size 2025-2029

The residential gas generator market size is forecast to increase by USD 672 million, at a CAGR of 7.4% between 2024 and 2029.

The market is witnessing significant growth due to the increasing popularity of these systems as reliable backup power solutions. With the rise of smart cities and the integration of energy storage systems such as batteries into residential applications, gas generators are becoming an essential component of the power infrastructure. Natural gas, a widely available and affordable energy source, is the primary fuel for these generators. Moreover, advancements in technology, including the use of inverters, have led to the development of more efficient and eco-friendly gas generators. Renewable energy sources like solar panels, wind energy, and hydrogen are also being integrated with gas generators to create hybrid systems that offer greater energy independence and sustainability. However, the market faces challenges such as the availability of alternatives like batteries and the increasing popularity of renewable energy sources. The construction of new power grids and the expansion of existing ones also pose a threat to the market's growth.

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The market encompasses the production, sales, and installation of stationary generators that run on natural gas and other gases, including fuel gas and propane, as alternatives to diesel and gasoline. This market is driven by the growing demand for reliable power sources during power outages caused by severe weather conditions such as storms and bad weather. Mechanical energy from gas generators is increasingly being used to produce electrical energy in residential areas, offering a cost-effective solution for homeowners.
Natural gas generators are gaining popularity due to their environmental benefits, as they emit fewer greenhouse gas emissions compared to conventional fossil-fuel generators. The availability of natural gas deposits and extra-regional trade agreements are also contributing to the growth of this market. Battery storage power packs and renewable gas options are emerging trends, providing additional flexibility and sustainability to the market.

How is this Residential Gas Generator Industry segmented and which is the largest segment?

The residential gas generator industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Stationary
  Portable


Fuel Type

  Natural gas
  Propane


Power Output

  Up to 5 kW
  5 - 10 kW
  10 - 15 kW
  15 - 20 kW
  Over 20 kW


Application

  Primary power source
  Backup power source
  Recreational use


Variant

  Automatic transfer switch (ATS)
  Manual transfer switch (MTS)
  No transfer switch


Power Rating

  0-100 kVA
  101-350 kVA
  351-1000 kVA
  Above 1000 KVA


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan


  Middle East and Africa



  South America

By Type Insights

The stationary segment is estimated to witness significant growth during the forecast period.

In the residential market, gas generators serve as a reliable backup power source during power outages caused by bad weather or natural disasters such as lightning, rain, snow, ice, wind, and floods. Stationary gas generators, which can run on natural gas or renewable gas, are often hardwired to the main power distribution unit panel for constant power supply. These generators can operate manually or automatically using an automatic transfer switch. During power outages, the transfer switch isolates the electrical wiring from the utility grid and signals the generator to start operation, providing power to the lines. Once utility power is restored, the reverse action occurs, and the generator is isolated and ceases operation, returning to standby mode.

Gas generators offer a cost-effective solution for residential consumers seeking backup energy sources, particularly in areas with unstable power supplies. They emit CO2, nitrogen, and sulphur, making environmental friendliness a consideration for some consumers. The demand for electricity, driven by increasing population growth and urbanization, has led to power supply shortages, making backup power applications essential. Gas generator OEMs cater to various industries, including telecom, residential, oil & gas, hospitals, and commercial sectors, among others.

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The stationary segment was valued at USD 891.70 million in 2019 and

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Power Grid Market Forecast 2024-2028

The power grid market size is forecast to increase by USD 93.89 billion, at a CAGR of 5.94% between 2023 and 2028. The report includes historic market data from 2018-2022. The market is witnessing a growing demand for the high adoption of smart technologies, the development of microgrids for localized energy generation, and the rising deployment of energy storage systems.

Market Overview :

The cables segment is fastest-growing segment during the forecast year
The cables segment was the largest segment and was valued at USD 90.30 billion in 2018
The Regional Analysis consists of APAC, North America, Europe, Middle East and Africa, and South America
APAC is is most dominating region during the forecast period
The market growth and forecasting report also includes an in-depth analysis of the rising adoption of renewable energy sources, the high adoption of smart technologies, and the high initial costs associated with modernization projects. 

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Market Trends

High adoption of smart grid technologies is the primary trend in the market. The adoption of smart grid technologies is driven by the need for improved efficiency, reliability, and sustainability. Smart grids leverage advanced digital communication and control systems to optimize the generation, transmission, and distribution of electricity. One key aspect is advanced metering infrastructure (AMI), which enables two-way communication between utility companies and consumers. AMI allows for real-time monitoring of energy consumption, facilitating demand response programs and enabling consumers to better manage their electricity usage.

Distribution automation technologies within smart grids enhance grid reliability by quickly identifying and isolating faults, minimizing downtime, and improving outage restoration times. Furthermore, the integration of renewable energy sources and distributed energy resources (DERs) is facilitated through smart grid technologies, allowing for seamless management of variable generation and grid balancing. Thus, the adoption of smart grid technologies is driven by the increasing complexity of the energy industry and the need for more efficient, flexible, and resilient grid infrastructure, which will further propel the growth of the market during the forecast period.

Market Largest-Growing Segments

Cables Segment Analysis

High-voltage cables are a key component in transmitting electricity over long distances, typically from power generation facilities to substations or between different regions. These cables are designed to withstand high voltages and carry large amounts of power without significant losses. Prominent players in the segment include Prysmian Group, Nexans, General Cable Technologies Corporation (Prysmian Group), Sumitomo Electric Industries, Ltd., NKT A/S, Southwire Company, LLC, LS Cable and System Ltd., Furukawa Electric Co., Ltd., TPC Wire and Cable Corp., and KEI Industries Limited.

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Furthermore, advancements in cable technologies, such as high-temperature superconducting (HTS) cables and extra-high voltage (EHV) cables, are increasingly being deployed to improve transmission efficiency, reduce losses, and enhance grid reliability. Additionally, the adoption of smart grid solutions is driving the demand for specialized cables that are capable of supporting advanced monitoring, control, and communication functions within the grid infrastructure. Consequently, from the above-mentioned factors, the increase in demand for cables in smart grids can drive the growth of the market during the forecast period.

Market Regional Analysis

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APAC is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Asia-Pacific (APAC) region plays a pivotal role in the market due to rapid urbanization, industrialization, and population growth. Significant demand for electric power in APAC stems from industrial and urban expansion, yet power infrastructure remains underdeveloped in many countries, leading to supply-demand gaps and instances of power theft. Investments in smart grid projects, particularly in India, China, and Japan, fueled by governmental initiatives, aim to bridge these gaps and enhance efficiency. However, challenges such as financial incentives and interoperability issues hinder the widespread adoption of smart grid systems in the region.

Market Dynamics and Customer Landscape

The market is witnessing a paradigm shift towards renewable energy sources and decentralized power generati

The U.S. Flywheel Energy Storage Market size was valued at USD 66.79 USD Million in 2023 and is projected to reach USD 108.17 USD Million by 2032, exhibiting a CAGR of 7.13 % during the forecast period. The flywheel energy storage system is the technique of storing kinetic energy by placing the flywheel at a rotating assembly. It is a way of converting electrical energy into kinetic energy, then storing it in the rotor of the flywheel and then turning it back into electrical energy at a later date. Flywheel energy storage systems find applications, where the power of the flywheel has to be quickly discharged and recharged; for example, for the stabilization of the supply network (grid), for uninterruptible power supplies (UPS), or for the integration of renewable energy systems into the grid. There are two main types: Low and High Speed Fly-wheel Systems. Flywheel energy storage has plethora of advantages which include high efficiency, long life cycle lengths, zero adverse effect on the environment and fast response time. There are also recent developments in the U. S. market where there is an escalated interest in the high- speed flywheel which has more energy density and is more compact than its earlier counterparts. Moreover, innovations in materials and technology make the performance of flywheel energy storage units better and make their use less expensive which makes flywheel energy storage a more appropriate way to solve the issues of the current energy market. Recent developments include: July 2022- Revterra raises USD 6 million in Series A funding in global investors provision development of grid-stabilizing kinetic battery. Revterra’s flywheel technology will also play an important role in achieving future plans., May 2022- Sartorius, the global life sciences company, is using Piller’s UPS systems with flywheel power back-up in its new production facility for filter membranes in Göttingen, Niedersachsen, Germany. Along with the UPS solution, Piller Group has also provided the Sartorius Group with comprehensive 24/7 service support from a Piller service team., March 2022- Pillar Group’s UB-V solutions were being evaluated or have been commissioned to provide more than 1.3 GW of power protection at data centers and other critical facilities in energy, healthcare, manufacturing, and transport across Asia, the U.S., and Europe. The UB-V solution can provide many MWs of reliable power protection on a daily basis and, in turn, give customers the confidence that their critical systems will run continuously.. Key drivers for this market are: Growing Demand for Electricity is Expected to Drive the Market Growth. Potential restraints include: Availability of Alternate Energy Storage Systems Hinders Market Growth. Notable trends are: Increased Focus on Energy Storage Capacity Propel Market Growth.

The reliable and affordable supply of energy through interconnected systems represent a critical infrastructure challenge. Seasonal and interannual variability in climate variables—primarily precipitation and temperature—can increase the vulnerability of such systems during climate extremes. The objective of this study is to understand and quantify the role of temperature variability on electricity consumption over representative areas of the Southern United States. We consider two states, Tennessee and Texas, which represent different climate regimes and have limited electricity trade with adjacent regions. Results from regression tests indicate that regional population growth explains most of the variability in electricity demand at decadal time scales, whereas temperature explains 44–67% of the electricity demand variability at seasonal time scales. Seasonal temperature forecasts from general circulation models are also used to develop season-ahead power demand forecasts. Results suggest that the use of climate forecasts can potentially help to project future residential electricity demand at the monthly time scale.Capsule Summary: Seasonal temperature forecasts from GCMs can potentially help in predicting season-ahead residential power demand forecasts for states in the Southern US.

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What is the Size of Gas Generator Market?

The gas generator market size is forecast to increase by USD 3.04 billion, at a CAGR of 6.1% between 2024 and 2029. The gas generator market is experiencing significant growth due to several key factors. Firstly, the increasing number of power grid failures has led to a greater demand for backup power solutions, driving market expansion. Secondly, the rising demand for repair and remanufacturing of energy equipment is creating opportunities for gas generator manufacturers. Lastly, the availability of diesel generators in the market is providing strong competition, but gas generators offer advantages such as lower emissions and longer runtime, making them a preferred choice for many applications. Further, energy policies promoting clean energy and the adoption of clean energy technologies have driven the demand for gas generators, as natural gas is considered a cleaner alternative to fossil fuels. Overall, these trends are expected to continue shaping the growth of the gas generator market.

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Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.

End-user

  Industrial
  Commercial
  Residential


Geography

  Europe

    Germany
    France
    Italy


  North America



  APAC

    China
    Japan


  Middle East and Africa



  South America

Which is the largest segment driving market growth?

The industrial segment is estimated to witness significant growth during the forecast period. In the industrial sector, gas generators have gained significant traction as a backup power solution for various applications. These generators, fueled by natural gas and greenhouse gas, are increasingly preferred due to the growing regulations against the use of diesel engines and generators in several industries.

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The industrial segment was valued at USD 5.01 billion in 2019. The global industrial sector's expansion, particularly in developing countries like China, Brazil, and India, is driving the demand for uninterrupted power supply. Construction sites, mining operations, chemical manufacturing, and semiconductor fabrication are some sectors that heavily rely on gas generators. In many cases, construction sites do not have access to a reliable electricity grid, making gas generators an essential power source for operating necessary equipment at these locations. The construction industry's growth and increased spending worldwide are significant factors contributing to the market's expansion.

Which region is leading the market?

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Europe is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In Europe, countries such as Russia, the UK, Germany, France, and Italy hold a significant share of the gas generator market. The power grids in these regions are highly dependable, reducing the need for backup power solutions in most cases. However, the demand for reliable fuel sources remains high, particularly in the automotive and energy industries. Europe's abundant natural gas reserves, found in countries like Russia and Norway, contribute to the market's expansion. The region's upstream oil and gas sector has seen substantial investment, further boosting the gas generator market's growth.

How do company ranking index and market positioning come to your aid?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Aggreko Plc: The company offers gas generators that are more versatile and flexible on gas fuel type.

Technavio provides the ranking index for the top 20 companies along with insights on the market positioning of:

Atlas Copco AB
Briggs and Stratton LLC
Caterpillar Inc.
Champion Power Equipment Inc.
Chroma Power Systems India Pvt. Ltd.
Cooper Corp.
Cummins Inc.
DIMAX International GmbH
Endress Elektrogeratebau GmbH
Generac Holdings Inc.
Himalayan Power Machines Co.
Kohler Co.
Mahindra and Mahindra Ltd.
R Schmitt Enertec GmbH
Rolls Royce Holdings Plc
Teksan Generator Power Industries and Trade Co. Inc.
Yanmar Holdings Co. Ltd.

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How can Technavio assist you in making critical decisions?

What is the market structure and year-over-year growth of the Market?

    Market

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Generator Market In the Healthcare Industry Size 2024-2028

The generator market size in the healthcare industry is forecast to increase by USD 1.11 billion at a CAGR of 3.2% between 2023 and 2028.

In the healthcare industry, the market is experiencing significant growth due to several key factors. Unreliable power grid infrastructure in developing countries is driving the demand for backup power solutions in healthcare facilities. Technological advances in generator technology, such as fuel efficiency and remote monitoring capabilities, are also contributing to market growth. As a result, there is a growing focus on reducing the environmental impact of generators through the use of alternative fuel sources, such as biodiesel and biogas, and the implementation of noise reduction technologies. Furthermore, stringent emission regulations are pushing generator manufacturers to develop cleaner and more environmentally friendly solutions. These trends are expected to continue shaping the generator market In the healthcare sector, ensuring a reliable and sustainable power supply for critical healthcare applications.

What will be the Size of the Generator Market In the Healthcare Industry During the Forecast Period?

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The market is driven by the need for resilient power supply in various settings, including urban areas and remote locations such as rural clinics, construction sites, and mining operations. Natural calamities and power grid infrastructure failures can disrupt the delivery of essential healthcare services, making backup power solutions crucial. Gas generators, particularly those utilizing natural gas and fossil fuels like diesel, dominate the market due to their reliability and availability. However, increasing focus on renewable energy sources, such as hybrid, bi-fuel, and inverter generators, is gaining traction as an alternative fuel source. Fuel cost and geopolitical factors, including crude oil prices and supply-demand imbalances, influence the market dynamics.
Grid operators and healthcare facilities prioritize generators that can provide continuous power during emergencies, ensuring uninterrupted patient care. Portable and stationary generators cater to diverse requirements, offering flexibility and scalability in power generation solutions.

How is this Generator In the Healthcare Industry Industry segmented and which is the largest segment?

The industry industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Hospitals
  Clinics


Type

  Stationary
  Portable


Geography

  APAC

    China
    India


  Europe

    Germany
    UK


  North America

    US


  Middle East and Africa



  South America

By Application Insights

The hospitals segment is estimated to witness significant growth during the forecast period.

The healthcare industry's generator market growth is driven by the increasing demand for backup power in hospitals due to the rising prevalence of chronic diseases and subsequent surgeries. These medical facilities require uninterrupted power for advanced equipment and operation rooms, ensuring optimal patient care. Natural calamities and power grid infrastructure issues can disrupt power supplies, necessitating the use of generators. Gas generators, particularly those fueled by natural gas and fossil fuels, dominate the market. Urban areas, remote locations, and industrialization are significant contributors to market expansion. Taylor Power Systems and other key players offer various generator types, including portable and stationary models, as well as hybrid, bi-fuel, inverter, and alternative fuel solutions.

Grid operators prioritize resilient power supplies, addressing concerns over fuel cost, fuel prices, and crude oil prices, as well as geopolitical factors and supply-demand imbalances. Environmental concerns, including noise reduction and air pollution, are addressed through advancements in generator technology, such as internal combustion engines and batteries.

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The hospitals segment was valued at USD 4.86 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 54% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The healthcare industry in Asia Pacific (APAC) is witnessing significant growth due to the expansion of public healthcare progr

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Solar Energy Storage Market Size 2024-2028

The solar energy storage market size is forecast to increase by USD 6.96 billion at a CAGR of 10.22% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. The first is the decreasing cost of rechargeable solar panel systems, making them an increasingly affordable option for generating and storing renewable power. This trend is further supported by advancements in batteries, which are enhancing the efficiency and storage capacity of solar energy systems. Second, the adoption of clean energy technologies, such as solar and wind energy, is on the rise as countries strive to increase their renewable energy mix and reduce reliance on non-renewable sources. Additionally, stringent regulations against lead pollution are pushing industries to seek sustainable energy solutions, further boosting the demand for solar energy storage. Solar charging stations and off-grid power plants are becoming increasingly popular as eco-friendly alternatives to traditional power sources, especially in remote areas or regions with unreliable electricity grids. Overall, the market is poised for continued growth as the world transitions to cleaner, more sustainable energy solutions, with batteries playing a key role in facilitating energy storage and ensuring reliable power delivery.

What will the size of the market be during the forecast period?

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Solar energy storage has emerged as a critical component of the renewable energy landscape, enabling the effective integration of solar power into the electricity grid. Solar energy, being a renewable and clean energy source, plays a significant role in reducing emissions and conserving traditional energy resources. However, the intermittent nature of solar power generation necessitates the deployment of energy storage technologies to ensure a consistent electricity supply. The integration of solar energy into power networks necessitates the adoption of energy storage systems to address the intermittency of solar power generation. Solar energy storage technologies, such as lithium-ion batteries and other rechargeable batteries, help store excess solar power generated during peak production hours and release it during periods of high electricity demand. This not only ensures a reliable electricity supply but also enhances the overall efficiency of the power network. The increasing electricity demand and the shift towards clean and sustainable energy sources have fueled the growth of the market.

Further, solar energy storage systems enable the effective utilization of renewable energy sources, such as solar panels and photovoltaic (PV) systems, even during periods of low demand or when the sun is not available. This not only reduces the reliance on traditional energy sources but also helps in emissions reduction. Role of Solar Energy Storage in Decentralized Energy Systems: Solar energy storage plays a crucial role in decentralized energy systems, particularly in remote locations where access to the main power grid is limited. Solar battery systems, coupled with solar panel systems and inverters, provide a cost-effective and sustainable energy solution for these areas. These systems not only ensure a consistent electricity supply but also provide resilience against power outages and grid failures. The production of solar energy storage batteries, such as lithium-ion batteries, requires raw materials like lithium, cobalt, and graphite. The demand for these materials is expected to increase with the growing adoption of solar energy storage systems.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Utilities
  Residential
  Commercial and industrial


Installation Sites

  On-grid
  Off-grid


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany


  Middle East and Africa



  South America

By End-user Insights

The utilities segment is estimated to witness significant growth during the forecast period. Solar energy storage solutions have become increasingly important as more countries shift towards renewable power sources to reduce their carbon footprints and achieve energy independence. However, the reliance on traditional fossil energy resources for electricity production has led utilities to invest heavily in these resources, resulting in higher electricity prices. Energy storage systems are crucial for governments in decarbonizing their economies, particularly with the rise of intermittent renewable energy sources like solar and wind power. Cost-effective energy storage solutions are essential for making renewable energy more viable a

The global switching mode power supply market is expected to be valued atUS$ 24.5 billion in 2022. Sales of switching mode power supply devices are likely to remain high for switching mode power supply during the assessment period. this is due to the rising application across various end-use industries and garneringUS$ 25.8 billion in 2033, recording a CAGR of 4.2% from 2023 to 2033. The market is likely to secureUS$ 39.1 billion in 2023.

Data Points	Key Statistics
Switching Mode Power Supply Market Size Value in 2023	US$ 25.8 billion
Switching Mode Power Supply Market Forecast Value in 2033	US$ 39.1 billion
Global Growth Rate	4.2% CAGR
Forecast Period	2023 to 2033

Switching Mode Power Supply Market Revenue Analysis from 2018 to 2022 Vs Market Outlook for 2023 to 2033

Attribute	Details
Historical CAGR (2018 to 2022)	6.6%
Forecast CAGR (2023 to 2033)	4.2%

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 4.2% from 2023 to2033
Market Value in 2022	US$ 25.8 billion
Market Value in 2032	US$ 39.1 billion
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ billion and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Type Application Region
Regions Covered	North America Latin America Europe Asia Pacific Middle East and Africa
Key Countries Profiled	United States Canada Brazil Mexico Germany United Kingdom France Spain Italy China Japan South Korea Singapore Thailand Indonesia Australia New Zealand GCC South Africa Israel
Key Companies Profiled	Allis Electric Co. Ltd. B&K Precision Corporation CUI, Inc. Absopulse Electronics Ltd. BENNING Elektrotechnik und Elektronik GmbH & Co. KG Block Transformatoren-Elektronik GmbH American Portwell Technology Inc. Artesyn Embedded Power Apx Technologies Inc. Bicker Elektronik GmbH
Customization & Pricing	Available upon Request

Overview and Intended Use Cases

These scenarios establish a range of futures for U.S. buildings sector energy use and CO2 emissions to 2050 using Scout (scout.energy.gov), a reproducible and granular model of U.S. building energy use, emissions, and consumer costs developed by the U.S. national labs for the U.S. Department of Energy's Building Technologies Office (BTO).

Scout benchmark scenario data are suitable for the following example use cases:

• setting high-level policy goals for the U.S. buildings sector to 2050 (e.g., X% building CO2 emissions reductions vs. 2005 levels by 2030, Y% reductions vs. 2005 levels by 2050);
• exploring the effects of key dynamics driving U.S. buildings sector energy and CO2 emissions to 2050 that could be affected by policy levers (e.g., raising minimum technology performance levels; accelerating electrification and/or retrofit rates; introducing breakthrough technologies to the market);
• determining priority segments (regions, building types, and end use/technology types) and sequencing of U.S. buildings sector energy and CO2 emissions reductions to 2050 under a given set of assumptions; and/or
• identifying the energy and emissions impacts or cost effectiveness of specific technologies or operational approaches of interest—in isolation or after considering competition with other measures in a scenario portfolio.

Scenario Summary

A total of 8 scenarios explore the effects of changes across both the demand- and supply-side of building energy use on annual U.S. building energy use and CO2 emissions from 2022–2050. Scenarios are organized into three groups representing low, moderate, and best-case potentials for building decarbonization, respectively. Individual scenarios are distinguished by four input dimensions:

• market-available technology performance range (EE): the energy performance levels of building technologies available for purchase by end use consumers, bounded by a minimum performance “floor” and maximum performance “ceiling”;
• load electrification (EL): the rate at which fossil-fired equipment is converted to electric service, and the efficiency level of the electric equipment;
• early retrofits (R): the fraction of consumers that choose to replace existing building equipment and/or envelope components before the end of their useful lifetimes; and
• power grid (P): the annual average CO2 emissions intensity of the electricity supplied to the buildings sector across the modeled time horizon (2022–2050), resolved by grid region.

Refer to the attached “Scenario_Guide" PDF for further scenario details and results; instructions for reproducing scenario results are available in “Scenario_Summary_Execution” XLSX.

Results data are reported as an annual time series (2022–2050) at both a national and regional (EMM grid region) spatial resolution. While not reflected in this dataset, annual time series data may be further translated to a sub-annual, hourly resolution for integration with grid modeling—please contact the authors for more information.

What's New in This Version

This set of benchmark scenarios carries forward elements of past versions of this dataset (previously titled “Scout Core Measures Scenario Analysis” and summarized in this paper) while also streamlining the scenario design and reflecting updated policy ambitions regarding deployment of building efficiency, flexibility, and electrification as well as power grid evolution. Three scenarios in the current dataset map back to past scenarios:

• Scenario 2.1: EE1.P1 -> Scenario 6: HR 1T-2T-3T
• Scenario 2.2: EE1.ELe1a.P1 -> Scenario 7: HR 1T-2T-3T FS0
• Scenario 2.3: EE1.ELe1b.P1 -> Scenario 8: HR 1T-2T-3T FS20

The following scenario features are new in this dataset:

• Measures in the “best available” tier are deployed with load flexibility features that are based on a previous study of the U.S. building-grid resource. Past versions reflected only efficiency and electrification measures.
• The effects of progressively raising the market-available technology performance “floor” are explored by including reference case technologies in the measure competition and assuming codes/standards remove these technologies from the market-available mix beginning in a certain year. Past versions only explored the effects of a higher technology “ceiling”.
• Increasing ambitions for the top “Prospective” tier of measure performance are reflected. Past versions mapped much of this measure tier to the 2016 BTO MYPP.
• Electrification is explored via both endogenous and exogenous model settings, where the former is based on Scout’s economic measure competition models and the latter is based on fuel switching scenarios developed by Guidehouse for the BTO E3 Initiative. Past versions only explored endogenous electrification.
• Inefficient electrification is explored (past versions did not explore inefficient electrification). In such cases, consumers switch fossil-based heating and water heating equipment to a mix of electric resistance and heat pump technologies, with the mix determined by AEO 2021 Reference Case sales share data for these technologies.
• The effects of early retrofitting behavior are isolated by running all but one scenario without early retrofits. Past versions assumed a 1% early retrofit rate.
• More aggressive grid scenarios are explored using Brattle’s GridSIM model. Two scenarios are included—an 80% decarbonized grid by 2050 and 100% decarbonized grid by 2035. Past versions used the AEO 2018 “$25 carbon allowance fee” side case, which reached ~73% carbon-free electricity generation (including nuclear) by 2050.