U.S. will need abundant, affordable, reliable electricityTesla recently announced that it would lay off about 10% of its workforce. This follows news that its year-over-year sales for the first quarter were up just 2.6%, compared with an 85% increase between the first quarters of 2022 and 2023.
The fact that the government has to use its coercive power to mandate the sale of a product probably tells you that the product in question is not very good. To give you an idea of the size of the added demand, current residential use is about 40% of total electricity demand in the United States. In other words, in the next few years, we are going to need to build hundreds of power plants, enough to replace aging plants and meet an additional 40% or more of current demand.
The North American Electric Reliability Corp., which is an overseer of electric reliability, has repeatedly warned that large portions of the nation’s electricity systems are operating with insufficient generation to ensure a reliable power supply.
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