Load growth in the United States due to beneficial electrification is currently about 25 TWhs per year
- Medium growth would add 55 TWhs per year
- High growth would add 80 TWhs per year
- NREL forecasts an 81% increase in load
- Eversource projects a 20% increase in demand by 2030 and 150% increase in demand by 2050
- National Grid expects peak demand to double
- Estimated increase in usage for a 2,500 sf all-electric home with heat pump system: 7,300 to 8,600 kWh per year; average usage for a residential GCEA member is 8,472 kWh per year
- This could add almost $1,000 per year to an electric bill, but could replace $2,500 in propane costs per year, saving $1,500 in heating costs
- Heat pump water heater estimated annual usage is 1,224 kWh which costs approximately $160, compared to a standard electric water heater that uses an estimated average of 4,879 kWh per year and costs approximately $650, saving almost $500 each year in water heating costs
- Heat pump water heater in heat pump mode uses just 0.5 kW when running, compared to 4.5 kW in a standard electric water heater, providing demand reduction benefits