According to the IEA, global electricity demand is projected to grow 3.8% in 2027, above the 10-year average of 2.7%, driven by AI data centers, industrial activity and rising EV adoption. Solar is expected to add 600 TWh of annual output through 2027, and the EIA projects ERCOT and MISO will add 13 TWh and 11 TWh of solar production by 2027. New nuclear capacity in 2027 will mainly come from two restarts, the Palisades plant in Michigan and the Crane Clean Energy Center in Pennsylvania, along with uprates. BloombergNEF estimates grid delays could require 48 GW of natural gas generation to come online by 2035 to meet data center demand. The IEA says global data center energy consumption could roughly double to 945 TWh by 2030 and reach 1,200 TWh by 2035.
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