According to a report by senior TechCrunch reporter Tim De Chant on July 21, BloombergNEF’s latest report projects that by 2035, electricity consumption by U.S. data centers will reach four times the current level—accounting for about 20% of the country’s total electricity generation. It currently accounts for about 5% to 6%.
BloombergNEF Forecast: Data Centers to Account for 20% of U.S. Power Generation by 2035
The core prediction in BloombergNEF’s latest report is that electricity consumption by U.S. data centers will rise from the current level of about 5% to 6% of national power generation to 20% by 2035. Compared with the previous forecast made in December 2025, this figure has been revised upward by 83%, reflecting the extremely rapid pace at which data centers are being developed across the country.
Multiple organizations have revised their projections upward in parallel, and the latest update figures are as follows:
BloombergNEF: U.S. data center electricity consumption by 2035 revised up by 83% versus the December 2025 forecast
EPRI (Electric Power Research Institute, a nonprofit in the power industry): 2024 estimated value raised by more than one-fold
S&P (Standard & Poor’s): expected to rise by more than one-third within just a few months
In addition, the report expects total capacity for U.S. data centers to expand to nearly 200 GW over the next decade, with nearly half of that capacity devoted specifically to AI computing. By 2033, the U.S. is expected to account for 64% of global AI chip electricity demand.
PJM Grid Supply and Demand Strain: 34% of Power for Data Centers, With Electricity Prices Jumping 76% in One Year
Spanning the PJM Interconnection grid from Virginia to Illinois, up to 34% of electricity will need to be supplied to data centers in the future. Texas’s main grid, ERCOT, also needs to allocate 22% of generating capacity to meet this wave of demand. The PJM grid has previously faced intense pressure from large numbers of interconnection requests, even pausing new power source connections for up to four years—directly contributing to a 76% electricity price surge over the past year in the region.
Even with high costs, data center operators still accounted for 38% of the expenses in the most recent PJM capacity auction, to the point that U.S. electric utility American Electric Power reportedly warned it may exit the system. BloombergNEF’s report notes that in the next decade, most newly built data centers will connect to grids that are already facing tight infrastructure capacity.
Global Power Impact: Additional 1,935 TWh by 2033
BloombergNEF warns that if AI adoption rates continue on their current high-growth trajectory, by 2033 global data centers will add as much as 1,935 TWh of additional electricity demand—nearly equivalent to India’s total national electricity consumption for an entire year.
The main concentration of this global electricity increase remains the United States: by 2033, the U.S. is expected to account for 64% of global AI chip electricity demand, reflecting that most AI infrastructure is still highly concentrated in the U.S. domestic market.
FAQ
What is BloombergNEF’s latest forecast for U.S. data center electricity consumption in 2035?
According to BloombergNEF’s latest report (reported by TechCrunch reporter Tim De Chant on July 21, 2026), it forecasts that by 2035, electricity consumption by U.S. data centers will reach four times the current level, accounting for about 20% of the country’s total electricity generation. This forecast has been revised upward by 83% compared with BloombergNEF’s December 2025 data.
Why did electricity prices on the PJM grid surge by 76% over the past year?
The PJM Interconnection grid has been under severe strain due to large numbers of data center interconnection requests and previously paused new power source connections for as long as four years. BloombergNEF’s report says that in the future, 34% of PJM electricity will need to be supplied to data centers, and that in the most recent capacity auction, data center operators accounted for 38% of the costs—an imbalance between supply and demand that directly led to a 76% surge in electricity prices over the past year.
What does BloombergNEF predict for the global electricity consumption increase of data centers?
BloombergNEF predicts that if AI adoption rates maintain their current high-growth trajectory, by 2033 global data centers will add up to 1,935 TWh of electricity demand—equivalent to India’s entire year of national electricity consumption. The U.S. is expected to account for 64% of global AI chip electricity demand by 2033.
