AI drives record US power generation boost

USA

WASHINGTON, D.C., August 19, 2024 – Amid the AI boom, the USA installed the most power generation capacity in H1 2024 in the last two decades, Bloomberg reported on Monday.

The country added 20.2 GW in the first half of the year, according to the US Energy Information Agency.

The addition is the highest seen since 2003 and is 21% greater than the capacity added in H1 2023.

A full 42.6 GW will be added by the year’s end, the EIA projects.

A spike in demand is being driven by AI and data centres, as well as the general trend towards electrification, the report said.

The EIA also noted that the robust demand has slowed the national trend of coal capacity retirement, with volumes retired dropping 45% in H1.

Regarding battery storage, the EIA said utilities could also add a record amount of capacity this year, 15 GW, if all planned additions come on line.

Read our latest insights on:

• USA

Previous

Nigeria's NNPC reports 29% rise in annual profit

Next

Eni starts production from gasfield offshore Sicily