Utility providers grapple with skyrocketing costs of the ‘electrified’ economy

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As a $1 trillion infrastructure package languishes in Congress, electricity providers across the nation are waiting to see if funding to help improve the country’s electric grid will become a reality.

It’s a big issue, says Electric Cooperatives of South Carolina CEO Michael Couick, who tells the Upstate Business Journal that power providers and academics, alike, are aware of the way the power grid fuels economic growth.

He cites a study released earlier this year by the American Academy of Sciences, Engineering and Medicine that estimates the country will need 170% of current electrical generating capacity to meet the growing demand for energy.

The issue is that as the need for electricity increases among the manufacturing and transportation sectors for things like electric vehicles and advanced manufacturing processes, electricity supply and the infrastructure that gets it to where it’s needed will have to be improved and expanded.

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