Research firm BloombergNEF sees U.S. power demand from data centers reaching 106 gigawatts by 2035, per new analysis.
Why it matters: That's a 36% upward revision from its April outlook, "illustrating just how quickly the sector is expanding."
Zoom in: Texas data center capacity is expected to more than double by 2035, reaching 14 gigawatts.
Data center expansion could start to strain the Texas power grid as soon as 2028, per BNEF's analysis, even as the state adds solar power and battery storage.
Solar energy in Texas is projected to triple in the next decade, and power storage is expected to quadruple by 2035, growing to 40 gigawatts from 10 gigawatts now.
Yes, but: Even that bigger 2035 projection is still pretty conservative compared to estimates from Goldman Sachs, BCG, McKinsey and several others.
The big picture: The study highlights big, interlocking trends.
Development is moving away from urban areas as facility sizes grow. "Today, US data centers are typically located in suburban areas within 30 miles of major cities," it finds.
What we're watching: The simmering backlash in some regions, which the NYT explored over the weekend.
