“Electricity is the backbone of our economy and is crucial to our national security,” concluded a recent report by M.J. Bradley and Associates, LLC, titled Powering America: The Economic Workforce Contributions of the U.S. Electric Power Industry.
According to the report, “Our high-tech society demands electricity to power or charge nearly every new product or technology that comes to market.”
Powering America cites the utility industry as the most capital-intensive economic sector, investing more than $100 million a year on the nation’s electricity infrastructure with advances in technology, environmental protections and other improvements. And that’s in addition to money spent on regular operations and maintenance.
The National Rural Electric Cooperative Association (NRECA) sponsored that study, along with two other national utility groups, to show how electric utilities power the economy as a result of lighting our homes and businesses.