An era of unprecedented energy demand. America is at the dawn of a new age of energy demand fueled by a revival of American manufacturing, widespread electrification, and advances in artificial intelligence (AI) and quantum computing. By 2040, energy demand growth is expected to increase by 35-50%. This is equivalent to adding three Texases worth of demand to the U.S. grid, which requires building thousands of new power plants to reliably supply energy.
These developments present immense opportunities for America to build big things again, including thousands of new power plants, energy projects and transmission lines to connect to the grid at an unprecedented pace and scale.
Bureaucratic obstacles cause delays at every stage of project development whether it is federal permitting, lawsuits or local opposition. The American permitting system must be modernized to meet rising demand and ensure access to clean, reliable, affordable and abundant energy.
Let America Build. America’s broken permitting system is hindering the ability to meet surging energy demand and presents a national security threat. If we cannot build, we cannot compete. According to a McKinsey study, it takes projects across sectors around 4-5 years to move through the permitting system and that delay costs $100-140 billion a year in economic value in the form of jobs, revenue, and capital returns.
It’s time to face the facts: time is money, and the lengthy permitting process disincentivizes investment in energy infrastructure, halts development and reduces access to clean, reliable and affordable power. President Trump stressed the need for permitting reform in his executive order, “Unleashing American Energy.” However, a durable, legislative fix is required to get projects moving and ensure they keep moving regardless of changes in the Administration. Needed changes include modernizing NEPA, addressing NEPA litigation, increasing transparency, and strengthening the grid.