Axios House: Energy secretary says U.S. can meet increasing demand

NEW YORK – The U.S. is struggling to meet fast-growing energy demand while transitioning to cleaner power sources, and the issue has become increasingly intertwined with national security and economic competitiveness.

• Axios senior climate reporter Andrew Freedman and energy reporter Ben Geman moderated conversations with Columbia University Center on Global Energy Policy founding director Jason Bordoff; Energy Secretary Jennifer M. Granholm; and Rockefeller Foundation president Rajiv J. Shah at Axios House for Climate Week and the UNGA, which was sponsored by GE Vernova.

Why it matters: Finding ways to meet increasing energy demand has only become more urgent with the rise of artificial intelligence.

What they're saying: "There are serious concerns with how this energy transition, which is picking up speed, plays out in terms of U.S. national security and economic competitiveness," said Bordoff.

• The challenge to meet AI's energy demands happens at a time when the U.S. is also competing with China to lead in development of the technology.
• Investments to meet the demand for AI data centers are "existential" for Big Tech companies, Bordoff added.

Secretary Granholm estimated 15% growth in energy demand in the next few years from AI alone, but is confident the U.S. grid can rise to the challenge.

• "The good news is that we can do this," Granholm said, noting that the U.S. will be adding 60 gigawatts of clean power to the grid this year.
• "That's 30 Hoover Dams worth of clean power on our electric grid this year," she added.

Yes, but: Transitioning developing economies from fossil fuels to renewables is also key in the global fight against climate change.

• "Unless we transition developing and emerging economies big and small from fossil fuels to renewables, no matter what we do in other parts of the world, we simply do not win the fight against climate change," Shah said.

Sponsored content:

In a View From the Top sponsored segment, GE Vernova Chief Executive Officer Scott Strazik said that the growing demand for electricity provides an opportunity to restructure the U.S. energy system.

• "We need to figure out how to continue to create more supply of electricity while decarbonizing it quickly," Strazik said.
• "To me, it's one of the more contradictory things I feel like I've seen in the U.S. the last six months. People are almost scared of the growth. The growth is the only thing that's going to give us a chance to actually address this," he continued.