"But the U.S. will struggle to have enough energy without wind and solar-especially as the tech sector's growing use of AI demands more power-according to Chuka Umunna, JPMorgan Chase & Co's global head of sustainable solutions, who spoke with Bloomberg Television on Tuesday. The comments came as JPMorgan announced an initiative to invest $1.5 trillion toward "security and resilience" that includes investments for solar, battery storage, nuclear, and efforts to modernize the energy grid."
"Nuclear in particular takes "years to come on stream," Umunna noted. Projects take an average of seven years, though the U.S. Government Accountability Office says nuclear power plants take 10 to 12 years to plan, license, and build. It can also take up to seven years to build new gas-fired turbines. Wind and solar, in contrast, are among the fastest (and cheapest) new sources of energy to build, with many projects taking just 12 to 18 months."
Renewable energy faces political attacks during Donald Trump's second term, with wind and solar projects canceled and policies favoring coal and other fossil fuels to pursue energy independence. JPMorgan's Chuka Umunna warns that the U.S. will struggle to meet growing energy demand—particularly from AI—without wind and solar. JPMorgan plans to invest $1.5 trillion in security and resilience, including solar, battery storage, nuclear, and grid modernization. Nuclear projects typically take years to come on stream—averaging seven years and, according to the U.S. Government Accountability Office, 10 to 12 years to plan and build—while wind and solar can be built in 12 to 18 months. Renewables can increase national self-sufficiency alongside other sources.
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