North Carolina has consistently ranked among the top states for business growth over the past several years, thanks to its strong workforce, infrastructure, and forward-thinking leadership. But as more companies consider locating or expanding in the state, the priorities driving site selection are shifting. In a recent survey by the Economic Development Partnership of North Carolina (EDPNC), 100 percent of respondents ranked energy availability as the top indicator for siting new construction—up from eight place between 2013 and 2021. This dramatic rise underscores a simple truth: reliable, affordable energy is now the single most important component for continued economic success. As industries evolve and demand for power grows, North Carolina must pursue innovative strategies that expand access to reliable, affordable power while helping companies achieve their sustainability goals.
The Market Opportunity
Clean energy developers are poised to be key players in this transformation. Many companies exploring North Carolina business opportunities target projects requiring 10 to 50 megawatts (MW), a range which fits well within the capabilities of clean energy projects. Clean energy can play a critical role in helping North Carolina keep pace with business growth, meeting rising demand and partnering with business projects in ways that utilities alone cannot. Allowing third-party energy providers to work directly with large load customers would open new markets, accelerate timelines, and give North Carolina a powerful edge in business recruitment.
Supporting North Carolina’s Communities
Maintaining business growth is extremely important for North Carolinians across the state. In fact, between 2022 and 2024, nearly 70 percent of large load projects (defined as five MW or more) were located in North Carolina’s most economically distressed counties (Tier 1 and Tier 2). This means that benefits aren’t simply confined to high-wealth areas, but are reaching the regions that are in dire need of jobs, tax-base expansion, and infrastructure. Expanding clean energy ensures that businesses can locate and access enough energy to thrive in all parts of North Carolina—even where traditional utility interconnection is tough—driving equitable economic development and shared prosperity statewide.
Beyond Data Centers
While the current discussion around “large load” projects often focuses on data centers, in reality they represent only a fraction of the overall trend. The EDPNC’s data show that of new, 100 MW or more projects in North Carolina, 47 percent are related to the automotive and EV industry, 18 percent the energy sector, seven percent aerospace, and five percent chemicals/plastics/rubber. If these industries and others are to continue shaping the state’s business landscape, meeting their energy requirements is essential.
Energy availability and innovation will define how far North Carolina can take its business success. In recent North Carolina Utilities Commission (NCUC) proceedings on large load demand, business and utility stakeholders alike stressed the need for flexible, transparent frameworks that allow consumers more control over their energy solutions. We must enact forward-looking state policy that empowers clean energy developers to serve large load customers directly. Doing so will align our power infrastructure with growing energy demand, sustaining the state’s economic momentum and ensuring inclusive prosperity for all North Carolinians.
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