For nearly three decades, the demand for electricity in the United States has remained relatively stable. However, forecasts indicate a dramatic shift, with projections suggesting a potential near doubling of where demand was expected to be over the next five years.

The driving force behind this unprecedented increase in demand largely stems from the proliferation of data centers and the emerging technologies they support, such as the mining of cryptocurrency and the rapid advancement of artificial intelligence (AI) technologies.

According to the International Energy Agency, the U.S. is expected to see power demand from data centers double over the next two years, with a projected tripling by 2030. This trajectory could equate the energy consumption of data centers to that required to power 40 million homes.