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Most of the states in the Mountain Region had solid growth in their estimated electrical sales potential through Sept. 2024, with Idaho (+4%); Montana (+8%); Nevada (+10%): and Utah (+5%) turning in solid YOY growth numbers, according to Electrical Wholesaling’s sales estimates. Nevada’s growth was particularly strong, as it added approximately $160 million in sales potential based in large part on the +10% increase of the Las Vegas-Henderson-Paradise, NV, MSA, and the solid +6% growth in Reno, NV, MSA, the two market areas that account for the vast majority of the state’s electrical sales.
Utah also shows some very strong growth, both at the state level with +5.1% growth, and in all of its major markets, which grew at better than a +5% rate. The St. George, UT, MSA (+8.3%) grew the fastest, followed by the Provo-Orem, UT, MSA (+7.6%) and Logan, UT-ID, MSA (+6.7%).The Boise, ID, MSA was also a top local market in the region, with a +7% sales increase boosting its sales potential to $590 million, according to EW data.
The Phoenix-Mesa-Scottsdale, AZ, MSA, normally one of the nation’s fastest-growing markets, was soft through Sept. 2024, as its sales potential only increased +1% YOY. Colorado also turned in surprisingly sluggish sales numbers given its track record, with a statewide decline of -0.4% and declines in all of its major metropolitan areas, as you can see in the chart below.
The region had two construction projects valued at more than $1 billion in the news this year – the $11-billion 3.5GW Sun Zia Wind Farm with more than 900 turbines in New Mexico, and the $1-billion Green River Energy Center in Emery County, UT, that broke ground in May 2024.
