Growth in Power Demand
The demand for power in the United States is poised to grow significantly over the next decade, with an expected annual increase of 2.0% to 2.5% through 2030. This growth is a marked change from the less than 0.5% compound annual growth experienced in the past two decades. A key driver of this increase is the expansion of data centers required for generative AI. These facilities are crucial for processing the vast amounts of data that AI applications need to function effectively. Technology giants are investing heavily in this infrastructure, underscoring their confidence in the growth potential of AI technologies.
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