The electric power industry plays a critical role in our society on many levels. It advances the nation’s economic growth and productivity; promotes business development and expansion; and provides solid employment opportunities to American workers. It is a robust and growing industry that contributes to the progress and prosperity of our nation. The electric power industry is an $840-billion industry that represents approximately 3% of real gross domestic product. It also employs hundreds of thousands of workers. As technology increases, it will require the industry to keep up with demand for power usage, which is projected to increase 23% by 2040. Translation: the industry needs a larger workforce, which is a big deal for SLTC graduates.
According to the U.S. Department of Energy’s Energy Information Administration (EIA), consumer demand for electricity is projected to increase 23% by 2040.
99% of households have televisions
99% of households have refrigerators
82% of households have clothes washers
79% of households have clothes dryers
79% of households have dvd players
76% of households have at least one computer
61% of households have central air conditioning
59% of households have dishwashers
43% of households have dvrs
That’s a headline that means great things for those in and entering the utility industry. It refers to the expected growth in the demand for electricity over the next 20 years. It has been estimated by the U.S. Census Bureau that 307 million people currently live in the United States and the population is projected to grow more than 20 percent by 2034. More people equals more demand.
A successful completion of our educational objectives by students results in graduates that will be qualified for a variety of positions including but not limited to the following: