AI (artificial intelligence) is expected to increase data center power demand by 160% by 2030, according to Goldman Sachs Research. In 2022, data centers used approximately 3% of US power, and that percentage is expected to rise to 8% by 2030.
Generating this additional power will require additional capacity, and Goldman Sachs estimates that utilities will need $50 billion in infrastructure investments to support data centers alone. These infrastructure improvements, as well as the fuel costs associated with generating electricity, such as natural gas costs, will have a significant impact on energy prices going forward.
Your electricity bill could also be affected by AI power demand if your business is located near large clusters of data centers. For example, Northern Virginia currently accounts for more than 20% of US data center capacity, but future data center development may target more remote areas, such as the Midwest (https://www.ib.barclays/our-insights/3-point-perspective/AI-power-energy-demand.html).
What can you do to prepare for rising energy prices associated with increased use of AI? In states where utilities are regulated, the utility company that services your area is your only choice (monopoly). In states where utilities are deregulated, there is free market choice (competition) to be your supplier.
Whether your business is in a regulated or deregulated state, there is money to be saved on your utilities. We guarantee savings or there is absolutely no fee.
