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Trends and Insights

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27 Jan 2024

AI and Cryptos to Double Electricity Demand by 2026

Digitalization and renewable energy are undergoing significant transformations. Electricity consumption from data centers, AI, and cryptocurrencies is expected [to double by 2026]( Meanwhile, renewable energy generation is poised to surpass coal by next year, becoming the largest global electricity source. Data centers, which consumed as much energy as France in 2022, are projected to require as much as Japan by 2026. Renewables, including solar, wind, and nuclear, are set to provide around 50% of the world’s electricity by 2026, overtaking coal as the main source.