Overview

• The White House Council of Economic Advisors warns electricity prices could climb 9% to 58% by 2030 if new lower-cost generation does not come online.
• Surging AI and cloud computing demand drove U.S. electricity consumption up 2% in 2024 after two decades of sub-1% annual growth.
• Meeting forecasted demand from AI, industrial electrification and manufacturing reshoring will require roughly $1.4 trillion in new generation capacity by 2030.
• China currently generates about twice as much electricity as the U.S. and is projected to become the world’s largest nuclear power producer by 2030.
• A $1.6 billion agreement to restart Three Mile Island will supply Microsoft’s AI data centers with carbon-free baseload power.