The read
Analysis of Oct 28, 2026, on data through Oct 28, 2026. Charts under each judgment are its evidence; sources are linked in the text.
- US electricity demand is growing again after 15 flat years. Power generation is up 10% from a year earlier, the highest reading since the series begins in 1972. Data centers used about 4.4% of US electricity in 2023 (176 terawatt-hours). Lawrence Berkeley National Laboratory projected 325 to 580 terawatt-hours by 2028, 6.7% to 12% of national consumption. (Lawrence Berkeley National Laboratory, 2024)
US electric power generation
Industrial production index, 2017 = 100, monthly.
Source: Federal Reserve Board (G.17).
Readings in this chart