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Barchart
Pathikrit Bose

IEA Says Nuclear Power Set for Record-Breaking Year: 2 Energy Stocks to Double Down On

As the growth of artificial intelligence (AI) continues unabated, the demand for nuclear energy is also set to rise. This is because the power demand from data centers is projected to surge by over 160% by 2030 compared to 2023 levels, reflecting the escalating energy requirements of the digital economy. To meet this substantial growth, an estimated 85-90 gigawatts (GW) of additional nuclear capacity will be needed, underscoring the crucial role of reliable and sustainable energy sources in supporting the data-driven infrastructure of the future.

A recent report by the International Energy Agency (IEA) suggests that global electricity generation from nuclear power is set to reach a high this year of 70 gigawatts (GW) of nuclear capacity under construction worldwide. The IEA highlighted that this renewed focus on nuclear energy could herald a “new era for the secure and clean power source,” reflecting its growing role in meeting the dual challenges of energy security and decarbonization.

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