Powering AI Adoption: How AI Growth is Driving a Surge in Power Demand

Artificial intelligence is reshaping industries worldwide, especially creating ripple effects on energy demand and investment strategies. The power consumption of data centers, especially those devoted to AI, is set to skyrocket. Morningstar's latest research forecasts US data center power capacity to triple by 2030, reaching 80 GW, fueled by generative AI.

Within the energy industry, there is a concentrated focus on baseload technologies, such as natural gas and nuclear. This new focus has left renewable firms undervalued despite their critical role in meeting the increasing energy demand and long-term growth in the industry.

Download the report to explore more on key insights into AI-driven energy demand and how these industry changes will affect renewable energy investment opportunities.