American Air Conditioning Costs To Be Hit By Global Warming

Americans have to worry about air conditioning this summer for two reasons. The first is that AC strains a grid under pressure because of AI server farms and Bitcoin mining in some areas. Additionally, the price of air conditioning will rise sharply. This will particularly affect low-income people and dent consumer spending at most income levels. 

The National Energy Assistance Directors Association (NEADA) and the Center for Energy Poverty and Climate (CEPC) released their annual Summer Residential Cooling Outlook. According to its analysis, consumers will be hit with the highest level in 12 years, possibly a record high for home cooling this summer, as the average cost of electricity is projected to reach $784, a 6.2% increase from $737 last year. After adjusting for inflation, the average family will see an increase of 4.2%. The period runs from June through September. 

People Paying Energy Bills Late

The data also showed that 21 million Americans are paying their energy bills late, and heat-related deaths are rising. 

When will Americans reach the point where they cannot afford AC? First, there is the issue of how fast rates will rise. AC server farms and Bitcoin mining will suck energy out of the stem at accelerated rates. And incomes may not grow at the same pace. 

The other is the health of the grid, which is barely large enough and not good enough to repair to carry the amount of electricity the US will need. Several energy sources will be attached to that grid, and renewables may not grow fast enough. If so, there may even be a return to cool.

For some people, in the country’s hottest regions, monthly AC bills may match rents.

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