3 Utility ETFs With Massive Upside as Demand Keeps Soaring

Data center electricity consumption is projected to exceed 1,000 TWh by 2030, up from 460 TWh in 2024 — a more than doubling (~+117%). That would equate to roughly 10% of U.S. electricity consumption, creating substantial incremental demand that will pressure grid capacity and likely accelerate utility capex, renewable generation, and storage investments. Investors should watch implications for power prices, utility balance sheets, and large cloud/AI operators' energy procurement and ESG strategies.

Analysis

Data center electricity consumption is projected to exceed 1,000 TWh by 2030, up from 460 TWh in 2024 — a more than doubling (~+117%). That would equate to roughly 10% of U.S. electricity consumption, creating substantial incremental demand that will pressure grid capacity and likely accelerate utility capex, renewable generation, and storage investments. Investors should watch implications for power prices, utility balance sheets, and large cloud/AI operators' energy procurement and ESG strategies.