30 Oct 2024
Megatrends: The electrification of everything
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The World is planning to transition to Net Zero by 2050 which means trillions of dollars will be spent on renewable energy, storage, electrification and carbon capture.
According to the International Energy Agency (IEA), 2024… “Electricity consumption from data centres, artificial intelligence (AI) and the cryptocurrency sector could double by 2026. This demand is roughly equivalent to the electricity consumption of Japan.”
While McKinsey & Company, 2024 expects… “By 2030, Data Centers will account for 8% of all US Power Demand.”
We have attached IEA forecast of global growth in electrification and the expected quadrupling in power demand in the United States alone by 2040.
Click to read.
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