generating capability of resources in the region
• A breakdown of the region ’ s generators by fuel / unit classification
• A link to the listing of transmission projects proposed , planned , and under construction
Net annual energy use in New England grew steadily between 1995 and 2005 , driven primarily by increased economic growth and the use of air conditioning . Since 2005 , net annual energy use has trended downward mainly due to an increase in energy efficiency from advanced cooling and heating technologies , energy-efficient appliances and lighting , and the increased prevalence of BTM solar generation .
However , ISO New England is predicting that trend will reverse in the next decade . The ISO is forecasting steady growth in net annual energy use as state policy goals for carbon emissions reductions drive the increased electrification of heating systems and transportation in the region .
The ISO ’ s innovative load forecasters continually refine their methods and assumptions to keep pace with emerging trends .
Updates since the 2023 CELT Report include capturing the effect of new managed charging programs , which incentivize consumers to charge personal electric vehicles outside of peak demand hours .
ISO New England also continues to develop methods to better reflect the partial electrification of building heating , which assumes consumers will also use a non-electric , backup heating source during very cold weather . These improvements will provide a more accurate picture of how consumers use electric heat pumps , since these devices often supplement existing oil furnaces or woodstoves instead of replacing them .
Each year , the ISO assesses the accuracy of last year ’ s predictions and modifies inputs accordingly . Over the past decade , the ISO has observed a decoupling of economic growth and demand for electricity ; in recent years , this led energy models to over-forecast . As a result of this benchmarking , 2024 ’ s 10-year forecast curves for annual energy are slightly lower than those in the 2023 report , driven partly by a more nuanced approach to developing economic model inputs . l FON 8 JUNE 2024 | FUEL OIL NEWS | www . fueloilnews . com