California Needs a $370 Billion Grid Investment, Edison Says
- Demand for electricity to grow 80% by 2045, pushed by EVs
- Grid upgrades also are needed to avoid wildfire risk, CEO says
Electrical transmission towers at an electrical substation in Vacaville, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Electricity demand in California is expected to jump 80% or more by 2045, requiring the state to invest $370 billion in its power grid and clean energy to meet its net zero goal, utility giant Edison International predicts.
Pressure on the electric grid of the world’s fifth-biggest economy due to the adoption of electric vehicles is rising, “and it’s moving faster than expected,” with load growing at least 2% a year, the utility’s Chief Executive Officer Pedro Pizarro said in a Bloomberg Television interview Tuesday. “It is a big lift for the state of California.”