"US investor-owned utility companies are planning to spend $1.4 trillion on electricity infrastructure between now and 2030, more than double what was invested in the prior decade, as the data centre boom driven by artificial intelligence creates an unprecedented surge in electricity demand."
"A majority of the 51 utilities cited data centres as a top driver of their capital expenditure plans, and more than 30 named data centres as a specific growth and spending driver through 2030."
"US data centres consumed more than 4% of the country's total electricity in 2023; that figure could rise to 9% by 2030, according to the MIT Energy Initiative."
"Additional drivers of the capex surge include decaying infrastructure requiring replacement, grid hardening against increasingly severe weather events, growing electrification of transport and heating, and population growth."
US investor-owned utilities are set to invest $1.4 trillion in electricity infrastructure by 2030, more than double the previous decade's spending. This increase is primarily driven by the surge in demand from data centres, which are projected to consume up to 9% of the nation's electricity by 2030. The investment figure has risen significantly from earlier projections, reflecting a growing need for infrastructure upgrades, grid resilience against severe weather, and the electrification of transport and heating. Data centres are expected to be the leading growth driver in the coming years.
Read at TNW | Insider
Unable to calculate read time
Collection
[
|
...
]