Posted August 26th, 2014 by EIA
There has been a five-fold increase in new electricity transmission investment in the United States by major investors and privately owned companies during the 15 years from 1997 to 2012. The investment increased from $2.7 billion in 1997 to $14.1 billion in 2012—reversing a three-decade decline.
The first major wave of electricity transmission investment ended in the late 1960s. It began with electrification in the early 1900s and was driven by increased use of new transmission technology, the growing use of large central station generating plants to serve large areas, and growing electricity demand following World War II. From then until the mid-1990s, investment in transmission infrastructure declined. It has increased since then for several reasons:
- Improving reliability
- Connecting to renewable energy sources
- Accommodating changes in electricity demand
- Increasing costs to build new transmission
- Reforming markets
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