Americas Power and Energy Transition: Behind the Backlog - insights from our data center survey

研报英文原文证据摘录

Americas Power and Energy Transition: Behind the Backlog - insights from our data center survey

arge data centers will utilize

hybrid power architectures combining grid supply and on-site generation.

6 - We asked a long form question around concerns and uncertainties - and five themes emerged from the responses:

• Theme 1: Grid access is the primary constraint. Respondents consistently cited interconnection queues, transmission

limitations, and grid reliability as the largest unknowns. - This drives our conviction behind GE Vernova’s electrification

business and that the market is missing the “connectivity tissue” demand associated with data centers.

• Theme 2: Permitting remains slow and uneven. Approval timelines were viewed as unpredictable across jurisdictions and

a major source of schedule risk.

• Theme 3: Power economics remain volatile. Electricity, gas, hydrogen, and storage costs were difficult to forecast,

reducing confidence in long-term planning.

• Theme 4: Emerging technologies are promising but not yet de-risked. Hydrogen and long-duration storage were seen

as constrained by cost, fuel availability, and technology maturity.

• Theme 5: Data center growth is intensifying system stress. Respondents were increasingly focused on whether utilities

and grids can keep pace with hyperscale load growth. Reiterating our view on infrastructure build out is going to be key for

reliability in the long run.

7 - Finally, we asked a long form question around how sustainability commitments shape power sourcing decisions. We

categorized the responses into three buckets and a majority of respondents indicated consideration of sustainability

goals especially if the projects were of large scale. We believe these results are supportive of NEE as large power producer