US Energy NGO Warns of Overwhelming Demand as ERCOT Considers Crypto Projects

Impact of Web 3.0 on Energy Reliability

The North American Electric Reliability Corporation (NERC) recently released its annual long-term reliability assessment of the United States electrical grid, which identified large portions of the United States and Canada as high- or elevated-risk areas for energy reliability. This includes Texas, which is seeing an influx of cryptocurrency mining industry seeking to expand.

The development and demand for energy is rising faster than ever before, and the industry is facing pressure from mounting demands for energy and on transmission system adequacy. The United States Environmental Protection Agency’s policies meant to reduce carbon emissions is also adding to the complexity of the situation, according to the National Rural Electric Cooperative Association (NRECA). NRECA CEO Jim Matheson said:

Nine states saw rolling blackouts in December 2022, Matheson added.

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Crypto mining has a special place among the different energy sources, as it is able to adjust its operations depending on the energy prices. This can be a hurdle for energy providers in terms of planning and development.

Electric Reliability Council of Texas (ERCOT) has authorized the study of grid connection for 9 gigawatts (GW) of power and is thinking over requests for 41 GW more. According to one evaluation, one gigawatt can provide enough energy to power almost 700,000 households in a year.

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