3 Ways Extreme Heat Can Hurt the Economy

As dozens of cities in the West experience all-time high temperatures, 2021 is expected to have one of the hottest summers on record. The extreme heat has caused hundreds of deaths, sparked wildfires and worsened drought conditions in over a dozen states.

Business Insider cites a large body of work that links heat to economic outcomes. Here are 3 ways they say extreme heat affects the economy:

1. Extreme heat hinders growth. A 2018 study found that the economies of US states tend to grow at a slower pace during relatively hot summers. Higher summer temperatures reduce growth in many industries, and workers are less productive when it’s hotter out.

2. Higher temperatures equal lower crop yields. Extreme heat takes a toll on some crops, including corn, soybeans and cotton. The consequently lower yields could be costly for US agriculture which depends heavily on those crops.

3. High temperatures drastically increase energy use. According to a 2011 study, just one day with temperatures above 90 degrees Fahrenheit can increase annual household energy use by 0.4%. This increase in electricity use stresses electric grids which can lead to blackouts. California’s 2019 blackout cost the state an estimated $10 billion.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

gpu deployment
Applied Digital is Scaling Up Infrastructure to Handle Growing GPU Deployment Needs
May 20, 2024

During a transformative period, Applied Digital experienced a significant increase in demand for large-scale GPU deployment. This demand required a focus on power density, as the networking within data centers, particularly for InfiniBand, necessitated that servers be located close together. Each server consumed 10.2 kilowatts of power, and the optimal performance was achieved when…

Read More
power sources
Applied Digital is Revolutionizing High Performance Computing by Locating Facilities at Unique Power Sources
May 20, 2024

Applied Digital optimizes high-performance computing by leveraging unique power sources, and locating facilities at the source of power rather than in traditional cloud regions. This approach is particularly suited for AI workloads, which do not require ultra-low latency like video streaming. By targeting areas with abundant but underutilized power, known as “stranded power,” the…

Read More
Experts Talk K-12 EdTech Leadership Priorities
K-12 EdTech Leadership Needs a Bigger Seat at the Table to Overcome Cybersecurity, Staffing, Professional Development Challenges
May 20, 2024

As we navigate the evolving landscape of K-12 education, the role of technology, as well as K-12 edtech leadership has never been more pivotal. Especially in the era of K-12 education post-pandemic, how has this influx of technology solutions for everything from curriculum management, to hybrid learning, to quiz gamification, to AI-supported learning, impacted…

Read More
energy reporting
Energy Reporting for Utilities & Businesses Isn’t Just for Transparency. It’s for Energy & Cost Savings, Too.
May 20, 2024

As cities and states increasingly implement energy benchmarking, disclosure, and transparency mandates, utilities and businesses find themselves navigating a complex landscape of compliance and opportunity. The rise of building performance standards, such as New York’s Local Law 97, Boston’s Building Energy Reporting and Disclosure Ordinance (BERDO), and Denver’s Energize Denver, underscores the urgency for detailed…

Read More