Crypto miners and data centers are expected to contribute to over 50% of the added growth in power demand. This surge in demand is driven by the rapid expansion of AI and the increasing workload on data centers, which is projected to triple their power consumption in the US over the next seven years.
A simple ChatGPT query consumes approximately as much electricity as a 60-watt incandescent bulb does in 10 minutes. This highlights the significant energy demands associated with the rapid growth of artificial intelligence and its impact on electricity consumption.
The rise in AI's power needs challenges the existing grid capacity because AI requires a significant amount of energy to process large language models in data centers2. This increased demand may not be fillable by existing generation capacity, particularly renewable sources, leading to potential blackouts and reliability issues.