This is a good point. There are however a number of innovations that are poised, or could potentially be poised, to increase electrical demand, from electric v

This is a good point. There are however a number of innovations that are poised, or could potentially be poised, to increase electrical demand, from electric vehicles to interstellar laser propulsion. But in every case I can think of -- with one exception -- the cost of electricity isn't a significant barrier to their mass adoption. Which is why in addition to falling electricity prices not stimulating the consumption of existing goods, they also aren't stimulating the production of new goods. The one exceptional use-case is crypto mining, which obviously does elastically respond to falling energy prices. But it's an unusual kind of demand in that in places where the electricity is higher than some threshold value, demand for this will be zero. Also, fucking hell, what a stupid use-case. Can we think of nothing better to do with our resources than come up with new ways to put a price on scarcity?