Goldman Sachs Exchanges Power surge: AI, renewable energy, and the future of electricity
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Jun 11, 2024 Discussing the surge in global power demand due to generative AI, the podcast explores the shift towards renewable energy sources like solar and the rising need for battery storage. It examines the challenges and opportunities in nuclear power for data centers and strategies in the electricity industry for renewable energy support, emphasizing the importance of balancing reliability and renewable sources in electricity generation.
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Generational Power Demand Growth
- Power demand growth is generational, led by data centers and AI, reversing a decade of flat growth.
- ChatGPT-level AI searches require much higher energy due to complex model operations.
Slowing Efficiency, Rising Demand
- Recent efficiency gains in data centers are slowing, causing power demand to rise again.
- Electrification of vehicles, residential, and industrial reshoring also increase overall electricity demand.
Plan for Diverse Power Demand Scenarios
- Expect efficiency gains in data centers to slow but not disappear due to ongoing technological innovation.
- Prepare for varied data center power demand scenarios depending on user budgets for AI servers.